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This paper reviews the reasons behind the absence of central Government funding for enterprise and innovation at Further Education Colleges (FECs). Enterprise and innovation are, according to conventional wisdom, crucial in rebuilding the UK's economy and providing jobs. In pursuit of this, the Government has provided central funding for enterprise promotion and education for both Universities and Secondary Schools, but not for FECs. The review starts by looking at recent Government policy papers on enterprise and innovation, then briefly considers the current economic characteristics that lay behind the need for enterprise education and innovation. The efficacy of the current proposals is questioned, looking at the concepts concerning the type and level of intelligence entrepreneurs need, also touching on what types of innovations can be expected to increase employment. The paper concludes by asking if elitist or class bias plays a part in the exclusion of Vocational Education & Training students at FECs from central funding for innovation and enterprise. [ABSTRACT FROM AUTHOR]