The home of the last Concorde to grace the skies is set to receive a £470,000 council bailout after a report revealed the museum is struggling to make money. The impact of the pandemic followed by the cost-of-living crisis and spiralling inflation has meant less income, rising bills and fewer school visits to Aerospace Bristol.
South Gloucestershire Council cabinet has now agreed to use up to £316,000 of new government cash to write off part of the interest and capital repayments of a 10-year loan it has with Bristol Aerospace Collection Trust (BACT), the charity that runs the attraction in Patchway, to “avoid the risk of insolvency”. The authority is also giving it £61,000 in 2023/24 and £31,000 for the next three years from a second pot of money from Whitehall announced last week, to help increase school trips.
The plan was a late additional budget recommendation published on the day of the cabinet meeting on Friday, February 10, and needs approval at full council on Wednesday evening (February 15) as part of the authority’s annual financial plans. The remaining £30,000 a year from the second extra government grant will be used from 2024/25 to 2026/27 to reverse proposed cuts to the Chipping Sodbury taxi marshals.
