FEES for food festivals, Christmas markers and other special events in Newport are to be slashed.

Currently street traders taking part in events such as these are charged £47 a day by Newport City Council.

But now one application will be accepted for the entire event, with only the applicant charged the full £47 fee, while each subsequent trader will be given an 85 per cent discount, making the fee £7.05 a day. This means the total cost of staging an event with ten stalls will drop from £470 to £110.45.

The change is being put in place by the council in an effort to encourage more special events in the city.

A council report said: "In the last few years there has seen a significant growth in temporary special events in places like city centres and local communities.

"Such events include farmers markets, Christmas markets, food festivals and antique fares."

But it said some street traders had told the council it was "simply not financially viable for them to independently operate such events regularly within Newport" due to the costs involved.

It added: "Successful markets and food festivals can provide a positive contribution to the character and vibrancy of city centres and local communities, attracting visitors and shoppers to the area, providing valuable and relatively low cost opportunities, at minimal risk, for local people to start up in business.

"Often the businesses who attend such events are small producers and only operate occasionally."

The report also said the plan will result in the council losing around £2,000 a year in income. However, it is hoped that the fees reduction would stimulate demand, and there would be an increase in the number of special events.

"This anticipated upturn in the number of special events would mitigate losses," it said.

"The work also aims to contribute in improving the city centre and local communities and as such could attract more restaurants and café style business to the city centre."

The revised charges will only apply when the council's licensing department agrees the application refers to a 'special event', with the report saying "an applicant trying to circumvent the full licensing fees" will have to pay the full fee.