Tuesday, May 16, 2006

St Paul's Academy funding problem

A few hours ago the News Shopper ran a story about the planned closure of Abbey Wood School. As the article points out, Abbey Wood school is earmarked for closure in 2009 and will be replaced/merged with a new city academy, St Paul's. However, the £20 million St Paul's has hit a bit of cash flow issue and building work has been suspended.

We were curious what the cause of the funding crisis actually was, so we got in touch someone we knew to find out. Apparently, an official bean counter in the chain thought the inflation rate in the UK was 0% and would remain so for the lifetime of the building project. Clever huh?


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