Edinburgh Christmas and Hogmanay budget to be cut

The Edinburgh Christmas budget is set to be slashed. Picture: Comp

The city currently spends £1.3 million on the festivities which bring thousands of visitors to the city every year.

But the council’s draft budget for 2016/17 proposes a £500,000 cut in funding.

• Edinburgh Hogmanay unveiled as Royal Mile expansion announced

This year's event will see the Royal Mile lit up. Picture: comp

The move comes as plans for this year’s winter festivals were due to be unveiled, including expanding the Hogmanay street party to include the Royal Mile as well as Princes Street.

City leaders say they are looking for value for money and insist the proposed reduction in funding should not mean scaling back future celebrations.

The Christmas and Hogmanay events have been run for the past two years by a consortium of Unique Events and Underbelly, but their contract comes to an end with this year’s celebrations.

The council could opt to renew the deal, but the draft budget proposes seeking a new provider “to deliver Hogmanay and Christmas programmes that are more cost-effective to the council”.

Last year’s celebrations are estimated to have boosted the Capital’s economy by nearly £242m.