The problem with this strategy, though convincing in
theory, is that there is little incentive for the heads to do so on the current model, which provides inadequate capital for the development of such
arrangements, and constrains these trusts in important ways from attracting and deploying the resources necessary for sustainable school improvement, such as constraints on the pooling of General Annual Grant funding, accumulation of surpluses, borrowing (whether secured
against assets or on funding agreements), deployment of capital, and acquisition and disposal of fixed assets — all inhibit chains from deploying resources where they are needed most.