A PETITION has been launched calling on Brighton and Hove City Council to reconsider its loan for the i360 project.

More than 500 residents have signed a petition calling on the council to instead use the money to build a new pier.

Brighton and Hove City Council acquired a £36.2 million low interest loan from the Public Works Loan Board which it has passed on to the i360 company at a higher rate.

Construction of the 162 metre attraction will take a major step forward this week when 17 steel cans forming its central shaft arrive onto the beach following delivery from The Netherlands.

To sign visit tinyurl.com/i360loan.