More news of forthcoming budget cut proposals.
We have just seen the full Isle of Wight council cut proposals which have just been outlined in preparation of the December Cabinet Meeting.
Here’s what they say on the Chain Ferry…
The Cowes – East Cowes chain ferry breaks even on a three year rolling average but there has been no investment to fund a replacement ferry when the current ferry reaches the end of its serviceable life in 2013/14. It is proposed to introduce charges for passengers as from 1 April 2011 (projected income of £200,000 based upon 50p per journey) which will assist in meeting the revenue costs of capital borrowing for a replacement ferry. Consideration will also be given to finding a commercial partner to manage and run this service in the future.
