I absolutely agree. I thank my hon. Friend for his intervention.
FE colleges such as Loughborough College are our greatest asset in local communities and the best conduit for social mobility. Let us reform the sector for the future, so that they have the tools and resources in place to make the difference to the lives of their students and to the businesses where they will go on to work. I want to put it in a positive rather than a negative way: yes, we need to look at the money and look at the VAT, but there is such fantastic resource within FE colleges. It is all there to be had. Let us do that, and let us help them.