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The Labour MP for Liverpool West Derby led a debate in Westminster Hall on the Building Schools for the Future (BSF) scheme and its impact on Liverpool.
Education secretary Michael Gove has said that building plans remain under review but has refused to confirm spending plans.
The focus of the debate, Stephen Twigg said, is the importance of investment in education in Liverpool.
He told MPs: "It is important for the life chances of children and young people, for social mobility and justice, and for the future economic prospects of the city.
"A vibrant knowledge economy is absolutely crucial for a city such as ours, and that is especially the case if we are to meet the challenge of increasing the role of the private and voluntary sectors in the city region's economy."
Twigg said the government has indicated that they are reviewing the scheme, suggesting there were "rumours" of an imminent announcement on its future.
He called on the minister to clarify a time scale for a review and to make clear how quickly decisions will be made.
Twigg urged the minister and government to give Liverpool's BSF programme the "green light".
"For the life chances of children and young people in Liverpool and for the future of our city region's economy," he said.
Education minister Nick Gibb said it was the government's ambition to raise the quality of education "for every child".
He recognised the impact that building new schools can have in school improvement, however made clear the current "difficult fiscal climate".
Where BSF has delivered, he said "some impressive new buildings have been built, but that has been at great cost".
He said the programme "simply has not delivered as it should have" and that he could not yet confirm the future of individual projects.
The minister concluded: "Capital investment remains important to our programme of school reform, but it must be efficient and cost-effective, and it must reflect the best possible value for money so that children benefit from the best possible standard of education and teaching."
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