Canals cash bid has to be pruned (From Gazette Series)

Canals cash bid has to be pruned

COTSWOLD Canals' restoration plans ran aground this week with the announcement that a much-hoped-for grant may not materialise.

British Waterways, the organisation spearheading the restoration, had applied for a Lottery grant of just over £20 million towards the £40 million project.

But the Heritage Lottery Fund has announced it would be deferring a decision to give British Waterways the chance to scale down its bid and seek more money from other partners.

Andrew Stumpf, British Waterways project manager, said the fund had acknowledged the immense heritage and regeneration benefits of the project but faced difficult decisions as the canal bid competed with a number of other worthy causes.

"The Heritage Lottery Fund has deferred its decision on whether it will provide funding towards the first phase of the restoration of the Cotswold Canals until its next major grant meeting in July," he said.

"We understand this round has been extremely competitive and there are currently tremendous pressures on funds."

Stroud MP David Drew, an advocate of canal restoration, said: "I'm a bit disappointed but to be fair they're looking for a high share of the money relative to the fund's entire budget for the South-West.

"If they did go ahead, it would be one of the biggest projects they ever supported.

"There are only two other places the money can come from, really, the Regional Development Agency and from development gain.

"What money we do get can be used to draw in more through match funding but we need to find out how much the Heritage Lottery Fund will be giving us and how much of a sliver will be knocked off."

Cllr Nigel Studdert-Kennedy, Stroud District Council's cabinet member with responsibility for the project, said: "The news that the bid has been deferred is a disappointment for the Stroud district.

"However, this disappointment does not justify withdrawal of support from the project by the council.

"Bids for available Lottery funds are subject to strong competition and are invariably oversubscribed.

"The case for the restoration of the waterway is not diminished by the decision of the Heritage Lottery Fund.

"British Waterways, the district council, the Cotswold Canal Trust and the Waterways Trust and other partners are still keen for the project to proceed."