New UK Bureau of Investigative Journalism will need £6m in funding

The UK's new Bureau of Investigative Journalism will need £6 million to fund its first five years of operation, the chair of its trust said last night.

Speaking at the official opening, James Lee, chair of the bureau's trust, welcomed the initial grant of £2 million given by the Potter Foundation in July, but said part of the bureau's long-term aim would be to explore new funding models for investigative journalism.

"During its first five years of existence the aim is to find out, through research and development, a way of making modern investigative journalism work financially," said Lee.

In an pre-launch interview with Journalism.co.uk, managing editor of the bureau Iain Overton said working in collaboration with other news organisations to produce and distribute investigations would be explored as a possible financial model for funding investigative journalism.

The best way of funding investigations is by sharing the costs and sharing the results, he said last night. The bureau is currently working on seven projects, including a collaborative investigation with the Financial Times, and is working towards an investigation with the BBC and four other international public service broadcasters.

"Two million is a huge amount of money but it isn't infinite," he said, adding that the bureau "will be transparent and open about the financial costs incurred" and is funding a PhD student to research into this area.

While Dr David and Dr Elaine Potter are both trustees, Overton stressed the bureau has a "rigorous independence" editorially from its investors, political parties and pressure groups. On its newly launched website, thebureauinvestigates.com, an investigation into public sector pay is reported and the bureau will take on heavyweight projects aimed at traditional investigative journalism topics, the connection between large sums of money and those in power, as well as data-led stories, Overton told Journalism.co.uk.

Former Financial Times chief executive Sir David Bell and former Saturday Times editor Professor George Brock are also trustees, and students from City University, where Brock is now head of journalism, will be offered paid internships with the bureau.

Angus Stickler has been recruited as lead reporter for the bureau, which currently has 17 full-time and freelance staff and will take on new recruits as investigations require.

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