The programme states that that schools should be fit for purpose and that a major capital investment programme to upgrade school buildings, exceeding the sums provided during the previous assembly term, should be continued.
"They have undertaken a huge capital building programme which is costing an absolute fortune, " he said.
The committee also heard evidence on the government's capital investment programme, '21st Century Schools' which was launched in March 2009.
The construction industry is heavily reliant on house building and repairs, along with the government's capital investment programme, particularly in water infrastructure, roads, education and health.
It also reported that the first phase of its capital investment programme - known as Project Phoenix - remained on budget and on track for completion during the first half of this year.
This will let Welsh Water finance its huge capital-investment programme in Wales and cut bills.
Spending cash on share buy-backs boosts earnings per share immediately, whereas a capital-investment programme may actually reduce earnings in the short term.
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This was after Ms Ruane failed to make a statement on her department's programme of capital building schemes.
In the capital, a similar programme, the London Challenge began in 2003.
"Governments need to take steps to bring forward and approve a programme of capital infrastructure improvements that will bring long-term benefits to the Scottish and UK economies, " he added.
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Paul Ashworth, an economist at Capital Economics, said the success of the programme depended on the willingness of private investors to take part.
As luck would have it, the designer of the technical details of the scheme, Michael O'Connor of Portman Capital, told Radio 4's Today Programme this morning that the original idea came from a Tory, Lord Saatchi, a couple of years ago.
An investigation for BBC London's Inside Out programme last year revealed agents in the capital were arranging to swap foreign licences into UK ones via a Hong Kong licence, which the UK does accept automatically, to bypass the rules.
Despite initially predicting the series would not take off, Tarrant and his partner David Briggs - his former producer at Capital - turned the show into the highest-rating programme on television within a year.
In London, Chris Tarrant's Capital FM breakfast show continues to be the most popular morning programme, with over two million listeners - one million more than Sara Cox on Radio 1.
In response to my second question, he did not take the opportunity to agree with Nick Clegg's recent suggestion that the coalition (and Labour) had cut capital spending too fast in the early part of the austerity programme.
The government-led programme is inspired by Liverpool's time as European Capital of Culture in 2008.
Run by the UK government, the UK City of Culture programme was inspired by Liverpool's time as European Capital of Culture in 2008.
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Away from the high-profile entertainment of the BBC's Dragons' Den programme, thousands of UK entrepreneurs regularly attempt to raise capital by pitching their companies to so-called angel investors.
And because the EFSF bears the first losses, its capital is at greater risk of being wiped out than under a loan programme.
The American conglomerate ended its share-repurchase programme, paid unprecedented interest rates on its commercial paper and raised capital from Warren Buffett, a celebrated investor, on terms that in normal times would have seemed exorbitant.
The government is now looking to capital bond markets and even the European Investment Bank to fund its priority school building programme.
Civil servants responsible for implementing the programme told the committee that it is taking a more strategic approach to capital investment than was previously the case.
Mr Paulson's programme raises the prospect of it becoming a huge player in the allocation of capital as well.
And with less access to capital, less credibility in the money markets, and less profit to reinvest, that investment programme would be cut back.
Plymouth's role as the regional media capital would have been even stronger if ITV had not switched the hosting of its nightly news programme to Bristol - a result of the same pressures facing the newspapers.
The White House's chief scientist, John Holdren, said "it would be only prudent" to review the human spaceflight programme given the scale of its ambition and "the significant investment of both funds and scientific capital".
Among London listeners, Capital FM's breakfast show - hosted by Dave Berry and Lisa Snowdon - remains the most popular early morning programme on commercial radio with 1.08m listeners.
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