KWC Funding Not a ‘Gift’

King William’s College and The Buchan School says the £2.2m loan from taxpayers will assist with construction costs associated with the school’s campus consolidation project

It was confirmed in Keys this week that the private school is to receive a repayable grant of £2.2 million from the public purse.

The offer of the fully repayable grant was received and formally accepted by the Governing Body at its meeting on April 4.

Funding For KWC

The repayable grant was approved under the DfE’s Financial Assistance Scheme (FAS) following departmental and Treasury Board scrutiny.

The FAS forms part of the DfE’s discretionary schemes which are designed to encourage economic development and help protect and grow jobs in the Island.

The schools say they provide nearly 200 jobs and generate substantial annual benefit for the exchequer.

Not a Gift

Peter Clucas, Chairman of Governors, said: “This is a fully repayable grant rather than a gift or subsidy.

“The funding enables us to move forward with an important capital investment project that underpins the School’s long-term financial sustainability.

Peter Clucas, Chairman of Governors

“We are grateful for the support from the Department for Enterprise through the application process.”

The project will consolidate and enhance the school’s facilities, and the works are being carried out by local contractors.

Along with support from Manx professional advisers, ensuring that the investment benefits the wider community.

Mr Clucas concluded: “This investment represents an important step forward for King William’s College and The Buchan School.

“It ensures that we can continue to deliver an exceptional education while supporting the island’s prosperity and long-term future.”