Changes to the funding arrangements for school building are designed to ease pressure on cash-strapped local authorities in Wales.
The changes will see the Welsh government increase its share of the funding through the mutual investment model (MIM) from 75% to 81%. This means local authorities and further education institutions delivering the new buildings using the MIM will pay only 19% towards the annual ongoing costs of the design, construction, funding and maintenance of the new facilities.
This is the final step in a suite of changes to the funding provided by the Welsh government in its school building programme.
Education minister Kirsty Williams said: “Our flagship 21st Century Schools and Education programme represents the largest investment in our schools and colleges since the 1960s. Changing the intervention rate will provide our delivery partners with vital support in these times of austerity and help us to attain our goal of creating sustainable learning environments across Wales, which also cater for the wider needs of our communities.”
Finance minister Rebecca Evans added: “This is a real opportunity to help transform learning environments across Wales. These changes will help to release additional funding in local authorities in these times of austerity.”