Cabinet expected to approve £2m loan for East Ham college
- Credit: Archant
Newham councillors are expected approve a £2million loan to a college to help it cope with government cuts to its budget.
Sir Robin Wales, sitting with his mayoral advisers in Cabinet, is expected to consider the loan to Newham College of Further Education on Thursday.
The college has campuses in East Ham and Stratford and is facing a funding gap this financial year which includes a cut of £1.2m in the grant for adult education and a loss of £4.3m as a result of targeting full time courses.
A full meeting of the council on September 29 delegated to Cabinet the decision to advance the cash to the college.
Councillors back the loan as a significant proportion, 12,000, of the college’s students are Newham residents.
Cllr Lester Hudson, cabinet member for finance, regeneration and planning, said: “Newham College of Further Education has been placed in an extremely difficult situation by government cuts to its funding, which has seen almost £5million cut from its budget. We want to ensure that changes to funding for further education do not impact on our education establishments and that they can continue to meet the needs of the borough’s young people.
“The council’s cabinet is set to consider, and based on officer recommendation, approve a loan of £2million to help safeguard the college’s future. This will ensure the college can aid in the skills development of the borough’s young people and adults.”