New Year Fireworks

Meeting: 
MQT on 2013-05-22
Session date: 
May 22, 2013
Reference: 
2013/1403
Question By: 
John Biggs
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Can you justify the additional public subsidy required for this annual event for the last new year?

Answer

Answer for New Year Fireworks

Answer for New Year Fireworks

Answered By: 
The Mayor

The public subsidy provided for 2012 New Year's Eve fireworks was in line with that of previous years.

 

The event generates approximately £38m economic value from the visitors alone at the event (a rate of return of approx 19:1), with further significant media profile for London - over 13million viewers from a domestic TV audience, and an international media value of approximately £8m.