Supporters of the plan to build a new concert hall in London are confident the scheme will go ahead despite the Government pulling out of the project.
Private backers will be sought after the Treasury withdrew its support with only a few hours’ notice on Friday.
Former chancellor George Osborne provided £5.5 million to develop a business case for the London Concert Hall but ministers have decided it does not offer value for money. About £1.25 million has been spent examining the case to build it on London Wall.
One figure close to the scheme said research had been carried out into the prospects for private fundraising and they were confident that if a design were put forward for “a landmark building” in central London, the backing would be available. They said: “The project was never intended to be dependent on Government funding from the start.”
The scheme was also supported by Sir Simon Rattle, who spoke about the need for a new high-quality concert hall when he agreed to take over as musical director of the London Symphony Orchestra in 2017. He is not expected to change his decision to fill the role.