Commenting on the Public Accounts Committee report on the Department for Education (DfE) published today, Chris Keates, General Secretary of the NASUWT, the largest teachers' union, said:
"The consequences of the drive for excessive autonomy for schools are now becoming evident.
"The Secretary of State recklessly has swept aside key financial safeguards, including abolishing financial management standards, removing the requirement for schools to secure best value for public money and diminishing the role of local authorities in securing good financial management practices in schools.
"His own department has set a bad example with its own financial practices.
"The apparent siphoning off of capital funding into a 'slush' fund to be used to tempt or bribe schools into becoming academies, and its covert practices with regard to school funding hardly promote financial probity and accountability."