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Organisers of the historic Whitstable Regatta have pulled the plug on this year's event after more than 200 years.
They have blamed "increased bureaucracy and extra financial demands" by Canterbury council for the demise of the popular family-themed programme this August.
Talks between the Whitstable and Herne Bay Lions Club, which has run the two-day event for the past 43 years, failed to resolve the issue and organisers confirmed today that regatta was off.
It means the popular firework display on the Saturday night and two-day funfair will not go ahead as well as the other events.
In a Facebook post regatta chairman Mike Shaw said: "I regret to advise the residents, businesses, organisations and associations of Whitstable, Tankerton and further afield to report that we will not be holding the 224th Whitstable Regatta on Saturday 12th & Sunday 13th August 2017.
"This has come about because of the increased bureaucracy and extra financial demands that have been made on the organisers by Canterbury City Council."
He said the demands put on the organisers had made running the event, which attracts 25,000 people, "untenable".
He added: "We realise that this will impact greatly on the business within Whitstable, Tankerton and the surrounding area and on the charities, youth groups and small "start up" businesses that use Regatta as a show case for their wares.
"The fairground that has been entertaining the public, I understand, for over 40 years will be sorely missed. Something else that will be equally missed are the Fantastic Fireworks on the Saturday Night recently sponsored by Shepherd Neame."
The event is funded by pitch fees, donations, sponsorship, selling advertising and the sale of the programme without direct financial help from the council.
Mr Shaw said: "We supply all the entertainment on land, sea and in the air absolutely free over a two-day period. One thing I must do is to thank all our sponsors and supporters both great and small who have helped to keep this Local Charity run event going despite creeping bureaucracy and health and safety requirements over the past few years.
"As the regatta chairman for the last seven years and one who has grown up with it from a small boy, I feel extremely concerned for the town at this decision but cannot see any alternative.
"Over its life the regatta has put many hundreds of thousands of pounds into the local economy which in these times will be greatly missed. The first Regatta was on Tuesday 7th August 1792 and it seems a great shame to have to finish this way!"
He offered the Lions' help for anyone wishing to take over the event.
Speaking before Mr Shaw's announcement today, council spokesman Rob Davies said the city council could not afford to continue providing staff to supervise the regatta. The council set its budget this week and revealed that it needed to make £2.2 million savings.
He said: “We met Mr Shaw and other members of the Lions to discuss this year's Whitstable Regatta.
"Our priority when meeting event organisers is always to help them run a successful and safe event for the public to enjoy.
"Our limited resources means we can no longer provide staff to facilitate an event run by another organisation on our licence, and as a result we require the organiser to apply for their own premises licence for the slopes.
“The cost of this is set nationally at £100 for an event with up to 5,000 people.
"The fee, again set nationally, then rises if more people are attending. We advised Mr Shaw of the best approach he could take to keep his costs to a minimum.
"Over its life the regatta has put many hundreds of thousands of pounds into the local economy which in these times will be greatly missed..." - Mike Shaw
Mr Davies dismissed the claims of other changes and says it is now all down to the Lions Club.
“All of those present at the meeting, apart from Mr Shaw, accepted the change in process and understood that, if the event was to proceed, they may need to rethink how they do it.
“It’s also important to stress the regatta can go ahead without a premises licence as long as they do not have any licensable activities, such as on-site alcohol sales, certain types of musical performances, dancing, films and plays.
"They were advised of this at the meeting too.
"There have been no other changes to the charges, so the ball is now in the organiser’s court to decide how they wish to proceed with this event. It seems they have decided to cancel, and if this really is the case, it’s disappointing news for local people.”
Councillor Neil Baker says the event, which is billed as the oldest regatta in the world, is an essential part of the summer calendar.
“I know the council are trying to help support long standing events in the district and the regatta is special,” he said.
“It is crucial that it remains and the regatta is a key part of Whitstable’s history, so any issues that there are I hope they can be sorted."