Morning:
14°c
The Tate intends to start building its giant Bankside Gallery extension next year.
Although fundraising had stalled at about £75million, or a third of the £215million needed, there were clear signs of confidence from potential investors in the past few months, gallery leaders said.
Lord Browne, the chairman, said: "My sense is that confidence has come back in the minds of people who are the potential philanthropists. We intend to start building next year and, subject to the amount of money we raise, we expect to have a building there by 2012."
Tate director Sir Nicholas Serota added that investors who did not discuss the issue in April or May were now in talks. "We're talking to a number of people who are more than capable of giving the large gifts that are required of the project," he said.
Gallery leaders insist they are "highly confident" that the Department for Culture will honour its pledge of £50million, even though it is revising its own spending.
