Apollo Cinemas has been told by West Berkshire Council that a £350,000 handout is available over five years for the new eight-screen multiplex in Cheap Street, while a £750,000 package of street improvements to cope with extra traffic has been dropped to just £70,000.

There has been widespread consternation around town since the scale of the subsidy first emerged more than a year ago. Conservatives said operator Apollo Cinemas was holding the town to ransom, and called on officials to look again at an alternative plan to build a commercially viable cinema next to the nightclub and bowling alley in Lower Way, Thatcham.

With subsidy estimates of £2 million being bandied around, West Berkshire Council said it would announce exactly how much the final cost would to the public, firstly in August, then in November, and now soon after today’s meeting.

The Kennet Centre was the surprise winner of four bids for the prestige project, seeing off rival schemes for The Wharf, Pinchington Lane and Lower Way.

Newbury.net will bring you final details as soon as they become available.