The William Herschel Telescope or WHT was first conceived in the late 1960s, when the Anglo-Australian Observatory was being designed. The British astronomical community saw the need for telescopes of comparable power in the Northern Hemisphere. Planning began in 1974, but by 1979 the project was on the verge of being scrapped due to a ballooning budget. A re-design cut the price-tag substantially, and Dutch astronomers took a 20% stake in the project, allowing the project to be given the go-ahead in 1981. That year was the 200th anniversary of the discovery of Uranus by William Herschel, and it was decided to name the telescope in his honour. The telescope is a member of the Isaac Newton Group of Telescopes.