Canal & River Trust Funding 2023-10-19
2023-10-19
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The Canal & River Trust's funding is under review, with discussions ongoing over additional funding of £400 million between 2027 and 2037. The trust was established in 2012 with a memorandum of understanding signed by the Department for Environment, Food and Rural Affairs.
What recent discussions has the government had with the Canal & River Trust on its funding? Ellesmere Port is proud to be home to the trust's headquarters but concerned about potential implications from funding decisions that amount to £300 million cut in real terms over a decade, urging for reconsideration and engagement to bridge this gap.
We have had many discussions on the review of its funding, providing more than £400 million additional funding between 2027-2037. The government does not adjust for inflation in funding. The trust received an investment portfolio worth over £1 billion.
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Assessment & feedback
The specific ask for reassessment and engagement with the Canal & River Trust was not addressed directly, only partially acknowledged.
We Are Providing Additional Funding
Investment Portfolio Of Over £1 Billion
Response accuracy
Q2
Partial Answer
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Context
Concerns persist about the future funding of the Canal & River Trust, with a £300 million real-term cut over ten years causing significant worries.
In Ellesmere Port, we are proud that the Canal & River Trust has its headquarters there but concerned about implications from recent funding decisions amounting to a £300 million cut in real terms. This will cause serious problems for the trust and urges the Minister to reconsider these decisions and engage on bridging this gap.
We recognise the work done by the trust, but assert that the £300 million cut in real terms is not correct due to adjustments for inflation. The trust also benefits from an investment portfolio worth over £1 billion.
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Assessment & feedback
The specific ask for reassessment and engagement with the Canal & River Trust was not directly addressed, only partially acknowledged.
Real-Term Cut Is Not Correct
Benefits From Investment Portfolio
Response accuracy
Q3
Partial Answer
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Context
Concerns exist over the future of Britain's canal network with the aim of self-financing since the trust was established in 2018. Previous discussions have taken place regarding a lump sum funding approach.
As chairman of the all-party parliamentary group for waterways, I share concerns about our canal network's future but am aware that when the trust was set up 15 years ago, self-financing was the aim. Richard Parry has discussed with me and Ministers the possibility of receiving a lump sum rather than over ten years. What progress has been made on this?
I thank my hon. Friend for his work and acknowledge that the subject is still under discussion.
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Assessment & feedback
The specific ask about progress on lump sum funding was not addressed directly.
The Subject Is Still Under Discussion
Response accuracy