COLCHESTER will not host the Tour Series cycle race next summer because the council cannot afford it.

The race has been held in the town centre since 2009 with 15,000 spectators and TV crews lining the route each time. However, Colchester Council decided the £75,000 bill is too expensive. It has to pay the costs of running the event, including insurance, security and road closures.

Council leader Anne Turrell said: “We had a budget meeting and looked at how much money we are short. We looked at a long list of things we could cut or change to fill the gap. The Tour Series was on the list because it is something we don’t have to do.”

Mrs Turrell said the decision came in the wake of the Government’s grant to the council falling from £10million in 2008 to £2million for 2013/14.

She said: “It was a difficult decision to make. The Tour Series brings tourists into the town and we run a number of activities in Castle Park in association with the event. It has provided a great day for children.”

Mrs Turrell said the cabinet decision was not unanimous.

She said: “I have the power to overrule any decision, but will always go with the majority. It is a real shame as the event put Colchester on the map.”

Colchester has been a popular venue for the Tour Series, which visits 11 towns and cities. It has twice been voted the best community day.

The Series was first held in Colchester in 2009. The next year it hosted a stage of the Tour of Britain. The Tour Series returned in 2011, 2012 and this year and was screened on I TV4.