Yes. I'll try to be brief. Academies are schools which operate outside local government control. They were created by the last government, by Tony Blair, and they were explicitly modelled on city technology colleges and grant-maintained schools, policy initiatives that originated under the predecessor Conservative government.
An academy, under Tony Blair, was an underperforming school which would be taken out of local authority control and linked with a sponsor, either a philanthropist or an institution of educational excellence, and given the support required in order to improve.
We've carried on with that policy and extended it. We've allowed existing schools which have demonstrated the capacity to improve themselves and to improve others, to enjoy the freedoms that come with academy status, freedoms not just from local bureaucratic control but also from the national curriculum. Free schools are essentially a new form of academy where, rather than central government either suggesting that a school should become an academy or permitting an existing school to become an academy, invites a new organisation, often a group of teachers, often philanthropists, to set up a new state stool school.