Edinburgh winter festivals grant cut by £450,000
Council funding for Edinburgh's winter festivals has been cut by £450,000 with no money being allocated for Christmas.
The City of Edinburgh Council is reducing its grant from £1,262,456 to £812,456 with all the money going to the world-famous New Year festival, which lasts for three days.
The events are now being put out to tender for firms to run on behalf of the local authority.
The new three-year contract will be from April 2017 until winter 2019/2020.
The current contract is held by Unique Events and Underbelly for the winter festivals.
Hogmanay generates £42m for Edinburgh's economy.
Richard Lewis, the City of Edinburgh Council's festivals and events champion, said: "Edinburgh's Christmas and Hogmanay celebrations are world renowned, providing the city and Scotland with unrivalled promotion and a great boost to the winter economy.
"Over the last three years, the festivals have gone from strength to strength but the costs incurred of policing Hogmanay and pressure on the council's budget has continued to increase.
"As we take these events to market, our priority now will be to ensure best value for the city while retaining Edinburgh's position as a fantastic winter destination.
"This is an exciting opportunity to build on the huge success of the winter festivals to date and identify new, creative activities and events to refresh and enhance the programme going forward."