£1bn government investment in Canal & River Trust takes waterways to new era
CRT gets over a £1bn investment
INLAND WATERWAYS: The Canal & River Trust will get over £1b of government help to give it the best possible start in looking after the 200 year old waterway network, said environment minister Richard Benyon today.
This unprecedented funding for a new charity paves the way for the launch of the new Canal & River Trust (CRT) later this year. This “national trust for the waterways” will harness the support of thousands of supporters and volunteers to help look after the canals and rivers in England and Wales for the benefit of future generations.
This is a good deal for the taxpayer, the waterways and for the millions of people that enjoy them, insisted the Defra press release. It went on to say releasing the nation’s waterways from government control gives more certainty than ever to their financial future.
The CRT’s charitable status will mean new opportunities for revenue through donations, charitable grants and legacies, increased borrowing powers, efficiencies and volunteering activity, added the Defra statement.
“The Canal & River Trust will be a national trust for the waterways, maintaining and restoring 2,000 miles of heritage sites, wildlife habitats and open spaces so that we can all enjoy them for generations to come,” said Mr Benyon. “Bringing our waterways into the Big Society puts decision making into the hands of the thousands of people who cherish the waterways near their homes. Our £1bn investment will get this new charity off to the strongest start possible, and let local communities and volunteers shape the future of our world-famous waterways.”
“In the 20th century the network was saved from destruction by committed waterway campaigners, volunteers and staff,” said Tony Hales, chairman of the trustees of the CRT. “ “With greater certainty of funding than ever before, we now have the opportunity to attract new investment and new supporters and give a greater role to the millions of people who live alongside and on the waterways.”
In order to help the CRT get off to the best possible start, Defra has committed a property endowment worth £460m and funding of £800m over the next 15 years to help put the nation’s historic network on a firm footing for the future.
In addition the new trust will give local communities and stakeholders a greater role in caring for their waterways.
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