DARTMOOR National Park Authority will be “working at speed” to come up with investment projects over the next couple of months to generate much-needed income.

The authority has seen a 13 per cent reduction in government funding – the largest in 17 years – which pays for day-to-day operations including staff costs.

But it has received £1.4 million in capital funding for projects and investments which DNPA’s chief executive Dr Kevin Bishop said is “very welcome”.

A small group of members of the park authority will now consider how the money, which needs to be spent before April, can be best used.

DNPA needs to become more self-financing if it is to avoid redundancies.

Dr Bishop said the timetable is tight as the authority does not have a capital investment programme as traditionally it had not received capital funding.

“We are starting from a standing start and own very few assets unlike some other national parks,” he said. “We will have to work at speed. All of this is unchartered territory for us as we have had 100 per cent revenue funding in the past.”

It will look at options including purchasing property inside or outside the national park it can let to tenants.

Members suggested opening more car parks as they generate income, or even loaning money to local authorities to earn interest.

Dr Bishop didn’t know if the grant is a one-off or would continue in years to come, so the authority needs to invest wisely.

The money it makes will be used to pay staff.

Dartmoor National Park Authority has a workforce of around 90 people and exists to conserve and enhances the beauty, wildlife and cultural heritage of the moor.