Canal and River Trust grant agreement
Grant agreement between the Secretary of State for Environment, Food and Rural Affairs and the Canal & River Trust.
When the Canal and River Trust was set up in 2012, the government agreed to provide an annual grant over 15 years to provide financial stability while the Trust developed alternative income streams. During this 15-year period the value of the grant payments total nearly £739 million.
A grant agreement was signed on 28 June 2012, setting out the purpose and terms of the grant, as well as the payment schedule and mechanism.
The grant agreement was updated in 2013 to clarify the definition of investment assets. It was amended again in 2022 to alter the funding schedule and mechanism, and to update administrative details.
It was further amended in 2023 to update legal references to data protection legislation and remove residual government controls which were incompatible with the Canal and River Trust’s status as a private sector body. This includes oversight and limitations to the Canal and River Trust’s use of private investment assets.
You can view the original grant agreement on the UK government’s web archive website.