The association called upon BW to reconsider its actions and also called a meeting of supportive MPs at Westminster on February 18 to brief them on its concerns for current funding of the waterways and, in particular, BW’s decisions concerning the Cotswold Canals.

The following day Neil Edwards, the IWA's chief executive, wrote to Michael Jack MP, chairman of the select committee, expressing the association’s concerns and urging him to reopen the inquiry into BW, with particular reference to the position of the Cotswold Canals, how the decision came about and its future implications. The IWA says the swift move by the select committee to reopen its inquiry appears to indicate that it shares these concerns.

The IWA intends to provide written evidence to the committee and encourages other interested parties, including waterway restoration interests, to consider making their own submissions, particularly in the light of potential impacts that BW’s withdrawal from the Cotswold Canals Partnership could have on their own schemes.

'Not withstanding BW’s acute financial difficulties, funding commitments for restoration projects need to be honoured if the waterways sector is to retain financial credibility for future partnerships,' said John Fletcher, the IWA's national chairman. 'Despite the unfortunate publicity caused by BW’s decision to withdraw, IWA remains positive that the situation can be resolved, and consider that it is not too late for BW to reverse its decision. We believe that BW needs to make a stronger case for additional funding to support the repairs to the Brecon and Abergavenny Canal breach, the cost of which is BW’s stated reason for withdrawing funding from the Cotswold Canals.'

A BW spokesman told BB: 'BW welcomes the Efra select committee's enquiry into our role in waterway regeneration and restoration. Over the last decade we and our partners have halted decades of decline and contraction in the country's inland waterways and expanded the network by over 200 miles.

'From being synonymous with dereliction our canals and rivers are now enjoyed and used by more people and for a wider variety of purposes than at any other time in their history.'