In 2003, the Financial Literacy and Educ. Comm. was created, which comprises 20 fed. agencies. In Dec. 2006 Hillman recommend. that the Comm.: (1) incorporate additional elements into its national strategy to help it serve as a true implementation plan, measure results, and ensure accountability; (2) expand current efforts to cultivate sustainable partnerships with states, localities, non-profits, and private entities; (3) obtain independent reviewers for the required assessments of overlap in fed. activities and the availability and impact of fed. materials; and (4) measure customer satisfaction with its Web site and test its usability. This statement discusses the Comm's. progress in implementing these recommend. and key challenges it faces.

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The Government wants schools to take more responsibility for themselves and each other in delivering a true self-improving school system. It wants schools to look not to local authorities for expertise but to each other. We have no problem with that vision and think the wide range of models and structures already in place is a strength and proof of vitality. We support moves to give schools more freedom to innovate but we argue that the creation of a self-improving system needs a degree of coordination and strong incentives to encourage schools to look beyond their own school gate. Otherwise there is a danger that many schools will operate in isolation rather than in cooperation. Academy chains are generally performing well but raise particular questions and need specific solutions. We recommend that it should be made clear how academies can leave chains either with or without mutual consent. We also call for the Department for Education to monitor more effectively the extent to which convertor academies meet the expectation that they should support other schools. The report calls for, amongst other recommendations, that: Ofsted to be given the powers to inspect academy chains and for Government to formalise procedures for schools to leave academy chains by mutual consent, and to set out how an outstanding school can leave a chain against the wishes of the chain management