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"I have set up academies all around the world.
By far the most expensive is the programme to set up academies in poor inner-city neighbourhoods.
His focus on discipline and standards in schools was good, as was his encouragement of private schools to set up academies.
In a case brought last year by Gillian Chandler, a mother living in Camden, where University College London intends to open an academy, the court of appeal ruled that the agreements to set up academies were exempt from tendering requirements.
Businesses and other organisations are allowed to set up academies and free schools but are not allowed to make a profit from them until there is a majority Conservative government.
As tech giants Apple and Cisco set up academies in Naples, the city's tech entrepreneurs are hoping new investment will revitalise southern Italy's failing economy.
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Louis XIV also organized the teaching and presentation of music and dance by setting up academies.
However, other parts of the education budget could be squeezed by £1bn, including further education and the administrative costs of setting up academies and free schools.
And meanwhile there's the time he devotes to good causes, whether raising money for Unicef or setting up academies for young footballers in poor communities.
The process of setting up academies was too slow for him; he wasn't allowed to use his tried and tested architects but had to abide by EU laws to put contracts out to tender.
In later years, Labour did focus on structures – such as setting up academy schools – as the best way of raising standards.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com