Helensburgh has been given a £5m boost in George Osborne’s Budget.
The Chancellor told the House of Commons today that the money would come from the LIBOR fines issued to banks.
No details of how the money will be allocated are available as yet, but Scotland Office Minister Andrew Dunlop said it would mean a new leisure facility, while the Scottish Submarine Trust said the town’s submarine centre would now be open this summer.
Lord Dunlop said: “This is fantastic news and will be a major boost for people living in Helensburgh and the surrounding area, particularly those working at the naval base at Faslane.
“Their commitment to keeping Scotland and the rest of the UK safe and secure is exemplary, and it is only right we recognise their efforts.
“This money will help rejuvenate the waterfront at Helensburgh – and will provide a magnificent leisure facility for everyone to enjoy.
“I am delighted George Osborne and the UK Government have been able to find this funding in today’s Budget and I look forward to seeing how it will be invested for the good of the town. ”
The submarine trust said a grant would mean the visitor attraction would be open this summer.
Housed in a former church hall on West King Street, the submarine centre will feature X51, a mini submarine launched locally in 1952 and subsequently used as a training vessel, to shine a light on the history of submarines, particularly their role in both world wars.
A statement today said: “The trust hopes the new centre will attract over 20,000 visitors to the town centre and will honour the sacrifice, innovation and dedication those currently servicing in the Royal Navy submarine service as well as the 5,316 who paid the ultimate price since the inception of the service.”
Last month Argyll and Bute Council announced a £17m project to transform Helensburgh’s waterfront, including a new swimming pool and leisure centre.
LIBOR fines have already paid for a £2m redevelopment of the Drumfork Club on Helensburgh’s Churchill estate.
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