CAMPAIGNERS hoping to HMS President have had their hopes dealt a blow by the Chancellor in his Autumn Statement but say they "won't give up on her."
A petition asking for the Chancellor, Philip Hammond, to use proceeds from LIBOR fines to bail out the WWI vessel was signed by over 10,000 people.
But when details of where the proceeds would be allocated were announced last week, HMS President was not one of the chosen charities.
The disappointment follows on from a rejection by the National Lottery Heritage Fund earlier this year.
Historic HMS President was launched as HMS Saxifrage in 1918 as an anti-submarine ship. From 1922 until February this year, she was moored on the Thames near Blackfriars Bridge.
The Flower-class ship was moved to Chatham make way for works on the Thames Tideway project but the Trust that maintains her don't have the funds to pay for the repairs needed before she could be brought back to a new berth in London.
HMS President Preservation Trust tweeted in response to the news: "Overwhelmed by your support following Treasury's decision to overlook HMS President's application for vital funds. We wont give up on her!"
HMS President arriving at Chatham Docks earlier this year.