Canal and River Trust: Finance

Department for Environment, Food and Rural Affairs written question – answered at on 8 September 2023.

Alert me about debates like this

Photo of Gavin Williamson Gavin Williamson Conservative, South Staffordshire

To ask the Secretary of State for Environment, Food and Rural Affairs, whether her Department is taking steps to help ensure the financial self-sufficiency of the Canal and River Trust.

Photo of Rebecca Pow Rebecca Pow The Parliamentary Under-Secretary of State for Environment, Food and Rural Affairs

The Memorandum of Understanding between Defra and the C&RT signed on 28 June 2012 has a clear objective: “To reduce dependence on Government Grant and to foster increasing self-sufficiency, by providing access to new charitable income streams and stimulating new efficiencies”. Defra officials have been discussing this with the C&RT for some time and have offered support on how it can increase income from other sources, alongside continued Government funding. The C&RT’s total income has grown by 11% between 2013/14 and 2022/23, while the proportion of that from the Government grant has remained relatively stable over this period at around 24%

The Government currently provides the Canal and River Trust (C&RT) with a grant worth £740 million over the 15 years 2012-2027 that provides roughly a quarter of its income. When the C&RT was set up in 2012, the Government also provided it with a permanent endowment fund now worth over £1 billion that generates a further quarter of its income. On 10 July the Government announced a very substantial £401 million of new grant funding for the C&RT between 2027 and 2037. This is a significant sum of money and a sign of the importance that we place on our inland waterways. It will also support the C&RT in continuing to move towards achieving the original objective of greater self-sufficiency.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.