The trusts were set up under Labour to boost attainment in schools where fewer than 30 per cent of pupils were achieving five GCSE grades A* to C.
They link struggling schools with their more successful neighbours, with each trust receiving up to £1m in funding.
The previous administration approved 73 National Challenge Trusts, of which 60 are already open. Five are set to open this school term, but the future of the remaining eight is now unknown.
In Gloucestershire, Heywood School has had to abandon plans to form a trust with the more successful Dene Magna School, using £500,000 worth of government funding.
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