London Development Agency cuts design festival funding

This is £30 000 down on the previous three year contract, which expired in March and guaranteed £300 000 each year. The current commitment also only runs for one year.

An audit of the LDF, carried out by management consultancy Strategem in 2007, said funding would be provided up to and including the 2009event. The review looked at the cost-effectiveness and how commercially viable it was for the LDA to support the LDF.