Once you do the sums I think it speaks for it's self. They may get enough people for 1 or 2 to go to Jerez but after that who knows. Those who do apply will probably do so once due to the cost and then where are the rest going to come from.
I would rather put the money towards the substantially costs of gaining a CPL/IR, exams, accomodation etc.....
From I personal point of view I would also be bitter about £147 which I would have to scrape together to probably finance somebody elses ATPL. ( I mean, I know I'm good but with these odd's....)