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.