Stow Maries Aerodrome is set to receive £1.3million funding to build an aircraft hangar.
The announcement came this afternoon during George Osborne’s speech.
The Great War aerodrome will receive the funding from a £75million pot generated from LIBOR fines paid by the banks.
Aerodrome manager Russell Savory said: “We’re incredibly excited.
“No-one knew about it until today.
“We’re chuffed to bits.
“We were wondering where we would get the funding.”
The massive cash boost follows a royal visit to the aerodrome by Prince Edward yesterday.
Mr Osborne said: “In each budget we have used the LIBOR fines paid by those who demonstrated the very worst values to support those who represent the very best of British values.”
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