Problem Floating Bridge costs the Isle of Wight £6.4m

Floating Bridge 6 when it first arrived on the Isle of Wight Credit: ITV Meridan

The problems plaguing the Cowes Floating Bridge have cost more than £6.4 million, according to a report by the Isle of Wight Council.

Published by the Solent Local Enterprise Partnership, the report says that a further £539,000 has been spent on a replacement launch service.

The report also suggests that the floating bridge could be used to replace a similar chain link ferry on Lake Windermere in Cumbria, although this is “unlikely to be realistic.”

The Windermere ferry is 28 years old and due to be replaced in 2020.

Speaking at a council meeting in September, cabinet member for infrastructure and transport Ian Ward said the Cowes service had operated well, at above 90 per cent reliability since March 2018.

Floating Bridge No.6 was launched in May 2017 but had to be withdrawn from service after less than 48 hours because of a design fault.