The planned unveiling of the statue of Margaret Thatcher in Grantham should be 'fully funded' by the private sector, according to council leader Kelham Cooke.

Coun Cooke made the comment during a 'full meeting' of South Kesteven District council this afternoon.

Coun Cooke confirmed at the meeting that the £300,000 statue is currently owned by the Public Memorial's Trust but it would be 'gifted' to the district council.

He then told the meeting that he received "extensive communication" concerning contributions to the cost.

Earlier this month, the cabinet of South Kesteven District Council agreed to set aside up to £100,000 to underwrite the event, though it stressed private fundraising would pay for it.

Controversy over this, as Nub News reported earlier today, has led the decision to be 'called in' or reviewed at a meeting early in the New Year.

Coun Cooke said the council was currently 'finalising' details as to where the money would go.

"I fully expect this event to be fully paid by the private sector."

He said the event would take place 'post-covid' and a revenue would be created to maintain the statue and make a contribution to Grantham Museum for the upkeep of its Margaret Thatcher exhibit.

Coun Cooke was also asked about further details of the unveiling.

He confirmed the statue would be unveiled by a "person of significant national interest" though for security reasons he could not say who.

The order of events at the unveiling was a "work in progress."

Coun Cooke added that despite reports in some of the national media, there would be no local referendum on the unveiling.

What had happened was a call for such a vote from former Grantham Mayor Iain Selby had been 'misquoted.'