I am very sorry, but I cannot because of time, even to my hon. Friend. I apologise.
Let me be clear: no FE or sixth-form college will close as a direct result of the Bill. The Bill will help to ensure prudent borrowing and lending, and to safeguard the protection of students.
The insolvency regime under the Bill will clarify what will happen should a college become insolvent. The special administrative regime we are introducing will allow Ministers to take action to ensure that learners are protected. There will be duties on the Secretary of State to promote education, and to provide suitable apprenticeship training and basic skills training for certain people. All existing statutory requirements will stay in place. Local authorities are also legally responsible for promoting effective participation and making clear how transport arrangements support young people of sixth-form age to access opportunities. That is not to say, however, that creditors are not important. Colleges and banks have long worked together to grow and develop the FE sector. The Bill will introduce a clear process for all involved should a college become insolvent, and will reassure creditors about how their debt will be treated.
The reforms in the Bill are fundamental to the Government’s vision for a country that works for everyone. It will ensure that we improve the skills base in our country, that we increase our economic productivity, that we protect students, and that those from the most disadvantaged backgrounds have a chance to climb up the ladder of opportunity. I commend the Bill to the House.
Question put and agreed to.
Bill accordingly read a Second time.