I refer to the letter (March 5) from the treasurer of the West Pier Trust regarding the funding of the i360.

He states that Brighton and Hove City Council will be making about £1 million profit every year from its loan of £36 million from the Government.

The loan will be passed on to the operators at a rate of 3.75% over the rate the council will be paying and will, therefore, be technically making an annual “profit” of £1.35m.

I have not been able to establish the rate the council will be paying for this loan but believe it may be 2%.

If this is correct, the operators will be paying 5.75% on the loan, which is the equivalent to an expense of £ 2.07 million a year.

This is interest only – what about the repayment of the £36 million at the end of 25 years?

On top of this, the operators have many other annual expenses: staff, maintenance, insurance, depreciation and the usual costs of running a business. This all adds up.

Income is dependent on the number of visitors and the cost of each ride.

All these numbers are fundamental in establishing whether or not the project is capable of making a profit.

I do not think it will. If it does fail, rather than making a profit from this loan, the council will end up with this liability for the next 25 years.

I request that the council disclose the figures for all to see.

Colin Beard, Goldstone Crescent, Hove