A £1 million grant has been awarded towards urgent repairs of the Wellington Monument. The money comes from fines imposed on British banks for rigging the interbank loan rates – known as the LIBOR scandal.
“This is an incredible start to our fundraising campaign,” said Andy Semple, Assistant Director of Operations for the National Trust SW.
“We have been working hard over the past year to understand why the structure is deteriorating and to talk to local people about why it’s so important to them,”
Local MP Rebecca Pow has been working behind the scenes at Westminster to gain a share of the £100m Libor pot for the Monument project.
‘I have personally stressed to both the Chancellor and the Chief Secretary to the Treasury the importance of the Monument internationally, nationally and, crucially, locally making it clear just what it would mean to see it restored to its full former glory,” said the MP.
‘The awarding of this money is testament to the hard work of the National Trust, the thousands of people who signed my parliamentary petition, the local Monument champions and everyone else who has shown support for the cause.’
This funding gives the project a huge boost. The next step is for the National Trust to submit their first round application to the Heritage Lottery Fund in a couple of week’s time towards the £3million still needed to raise for the project to go ahead.