THE anticipation of residents in Ilford for a new swimming pool has been dashed after councillors were told there is hardly any cash to fund it.

The new pool, part of a leisure complex which would have replaced Ilford Swimming Pool which has been closed since September last year as it was deemed unsafe.

The closure resulted in a full year savings of £161,000.

Councillors were given the poor outlook during a recent cabinet meeting at Ilford Town Hall.

Cllr Linda Huggett, cabinet member for leisure, culture and the Olympics, said: “We have been trying to find finance for this vital project for over two years but matters have been really complicated by the current economic climate and the reluctance of large financial institutions to borrow.”

Council chiefs have said that the most likely way of funding the proposed £35 million leisure facility would be through a combination of external funding, borrowing and selling council assets such as land.