The Window on the World festival (WoW) attracted more than 350,000 people to North Shields over the Golden Jubilee bank holiday.

But Chris Morgan, the Conservative mayor of North Tyneside Council, has said the festival will now be scrapped to balance the books and bring the council out of the red.

Mr Morgan is proposing more than £2.8m in budget cuts, which could also see 100 council workers lose their jobs.

School meals

Among other measures, money will be saved from the £330,000 the council spends on the festival, and from other budgets.

His proposals will go to the council's cabinet on Tuesday and seem likely to be approved.

Mr Morgan hopes eventually to save £5.4m through council economies and reorganisation.

The cost of school meals will increase from £1.20 to £1.40, and a centre used by severely disabled children and young people will close.

Smaller event

The festival started off as a modest music event called North Shields Fish Quay Festival in 1987, but now costs £330, 000 a year to run.

Mr Morgan said the council may support a smaller festival again in the future.

He said: "I was elected on a promise of balancing the books and that is what I am going to do.

"I have a duty to make sure the council's limited resources are spent in the most effective way."

He said he did not think more than 100 council jobs would be lost.