THE popular Alexandra Palace Fireworks display looks set to be cancelled after the charitable trust which runs the site decided they could not afford to find it. Last year the fireworks left the board with a �63,000 deficit and Chair of the trustees Cllr

THE popular Alexandra Palace Fireworks display looks set to be cancelled after the charitable trust which runs the site decided they could not afford to find it.

Last year the fireworks left the board with a �63,000 deficit and Chair of the trustees Cllr Pat Egan said this could rise to �80,000 this year with the council charging more for road closures and police charging for officers for the first time.

A report to a trustee meeting on Tuesday night said the �100,000 budget for the event could instead be spent on repairs and maintenance.

Cancelling the event would cost the trust �5-10,000.

Cllr Egan said: "This is with great reluctance, but we had to bite the bullet and make the decision that in the face of severe fiscal cuts, we could not go into this, with our eyes wide open knowing we would make a huge loss."

He added that other funding options are being considered - something leader of the Liberal Democrats Cllr Robert Gorrie urged.

"As one of the most popular events borough wide, this will be hugely disappointing," said Cllr Gorrie.

"However, the Charitable Trust is clearly under big financial pressures after decades of Labour mismanagement and needs to focus on delivering the major improvements such as getting the ice rink working again.

"I suspect there are other boroughs where the council provides some of the funds for this sort of event, so I support the trustees approaching the council to see where such an event should sit in the authority's budget priorities.