A fundraising campaign is to begin to raise a six-figure sum for commemorations to mark the unveiling of a statue of Margaret Thatcher in Grantham.

A move by South Kesteven District Council to 'underwrite' the cost of related festivities by up to £100,000 has attracted some opposition, especially on social media, as Nub News reported today.

But cabinet members at the Conservative-run council stressed that the event would be funded privately.

Council leader Kelham Cooke told the cabinet meeting this afternoon that the unveiling would bring a much needed boost to the area, but initially it would incur significant cost.

There would be a "comprehensive fundraising campaign", and he expected the cost of the event would be funded privately, not by the public purse.

Underwriting the event was to provide cashflow and upfront funding, Coun Cooke explained.

Using a professional events company would promote South Kesteven and keep visitors safe.

He supported a debate about Margaret Thatcher's legacy but "what can't be disputed is this unveiling provides a fantastic opportunity for South Kesteven to celebrate its heritage to a national and international audience."

Coun Cooke said a "significant figure of national importance" would unveil the statue, though he declined to say who it might be.

"I have been in touch with donors and senior party figures. This is a fantastic event, one I know will be funded by the private purse."

Cabinet members them spoke in support, with several recalling how they grew up in the period before and during Margaret Thatcher's Premiership.

Coun Robert Reid recalled a time of "union repression" miner's strikes, power cuts and postal strikes before Margaret Thatcher "put the economy back in order."

Britain's first woman Prime Minister "got rid of the old guard that held the Conservative Party back" and she brought "respect back to Britain."

"She was the Iron lady that also put the Iron back into Britain."

Coun Reid then pledged to help support the event, saying he had catered for Prime Ministers before.

Cabinet member Dr Peter Moseley noted it was not often a small town in Lincolnshire could lay claim to having Britain's first woman PM.

Coun Moseley then said statues exist to create conversation and this statue would foster debate about failures and successes.

Cabinet Member Annie Mason then called for businesses to be involved in the event and to make the most of the 'fantastic experience.'

Coun Cooke agreed: "We should make it (the unveiling) a day for Grantham."

Grantham councillor Ray Wootten then told members how a statue of Labour PM Harold Wilson graces the streets of Huddersfield, and he wanted Grantham to have its own statue of a former PM.

When as mayor ten years ago, Coun Wootten recalled how people would ask him why Grantham had no statue, no roads named after Margaret Thatcher and then no museum.

He too recalled the strife Britain faced under Labour in the 1970s until Margaret Thatcher transformed the economy and Britain's place in the world.

"She put the great back into Great Britain."

However, non-aligned councillor Iain Selby said the issue was very divisive. He told the meeting he wasn't saying don't erect the statue, but to put it to a public referendum.

This, he said, if passed, would give the status legitimacy and no-one would have any excuse to vandalise it.

"Having no referendum is asking for trouble. It would be an illegitimate statue."

If the statue was not endorsed by the public, he said it should go indoors, rather than on St Peter's Hill, to give the public the choice of looking at it or not, he added.

The cabinet then all voted that SKDC should underwrite the cost of the launch event up to a maximum of £100,000, as recommended.

Coun Cooke then concluded: "The hard work starts now."

The council leader added Coun Graham Jeal, of the Grantham Community Heritage Association, "looked forward to starting the fundraising campaign."