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Cornwall Council seeks £41 million from Govt for Ferry Link

posted Oct 17, 2010, 6:22 PM by Richard Cliffe

The funding request from Cornwall Council stands at  £41 million from Central Government with a further £11 from the EU and £10 million borrowed by the Council.  Council borrowing is part of the funding for the vessel.  It is paid back as part of the charter fee paid by the operator of the service (IOSSCselected as the operator).  The current vessel (Scillonian III) was part funded by a Government loan repaid over, we believe, 10 years.  

The Central Government decision on whether to fund the scheme is expected within a few weeks of the Comprehensive Spending Review announcement on 20 Oct 10.

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