The Port of Ramsgate should be closed after racking up operating losses of £2.7m in three years, says a former Thanet councillor.

Figures obtained by the former Green councillor Ian Driver indicate that between 2012-13 and 2014-15, Thanet council, which owns the port, has accumulated losses of £2.7m.

The council was recently required to pay £2.6m in compensation to animal exporters after its unlawful suspension of trade in 2012 and 2014.

Mr Driver said the figures indicated there was little possibility of the port operating as a commercial success and the authority should cut its losses.

“It’s time to face the facts. The Port of Ramsgate is finished. Competition from Dover Harbour, which is undergoing a mulit-million-pound expansion programme and the massive ultra-modern London Gateway on the Thames Estuary freight terminal means that the there’s no possibility of Ramsgate becoming a commercially sustainable port.”

The council had income of £638,117 in 2014-15 but outgoings of £1,602,822 - creating a loss of £964,705.

The council has reportedly held some initial discussions with some ferry operators about new services but to date, there has been no formal announcement.

There have been no ferry services operating since the collapse of TransEuropa, which went into administration and left Thanet council with a £3.4m debt for unpaid port charges.

Mr Driver said the council should consider developing the port as a marina and sea sports complex.

“I have long favoured transforming the port into a modern state of the art 21st century marina and sea sports complex which would complement and enhance the Royal Harbour."

"A modern marina would attract tens of thousands of new visitors from the UK, Europe and across the world who will spend their money in the town’s shops, bars, restaurants and hotels.”

Ukip leader Nigel Farage and council leader Chris Wells suggested in July that the port could be used as an alternative route for lorries stuck in Operation Stack.

Earlier this week, a ferry expert said he hoped to take control of the port and relaunch passenger services after a series of meetings with senior politicians who have backed his idea.

Bill Moses outlined plans for an operator to carry up to 500,000 passengers by its second year of full-time operation at the Port of Ramsgate.

Thanet council has been approached to comment but has not yet done so.