The Tall Ships Regatta 2017 will go ahead as planned after a motion to scrap it was rejected by Greenwich Council

In a meeting of the full council, Greenwich Conservatives put forward an amendment to the annual budget which proposed scrapping the Tall Ships.

The conservatives proposed to spend the Tall Ships budget, which was over £1.7 million last year, on a Welfare Assistance Plus programme to help the poorest in society.

Greenwich Conservatives leader, Councillor Spencer Drury said: "It's a straight choice between the Tall Ships Regatta, which cost £1.7 million last year and we can assume the same for 2017, or we can save the disabled from council tax.

However, the amendment was rejected and the Tall Ships Regatta will go ahead as planned in 2017.

Councillor Danny Thorpe said: "As far as the Tall Ships are concerned, the opposition has failed to grasp the significant benefits for our community.

Coun Thorpe rejected the notion that the Tall Ships were a vanity project and said they were vital in the growth of the tourism industry in Greenwich He added: "14,000 jobs in this borough rely directly on tourism.

"It's a simple fact that the Tall Ships generated £17 million return investment in our economy and over 80% of businesses think they're a good thing."

The original budget for the Tall Ships Regatta in 2014 was £150,000 but the net cost of the event was £1.74 million.

Councillor Matt Hartley said: "How on Earth can Labour councillors, Labour councillors, prioritise spending £1.7 million on the Tall Ships Regatta over extra support for the people for the people most in need in this borough.

"We don't deny there are benefits from the Tall Ships Regatta, what we are saying is that the council taxpayer should not be expected to bear the cost of a £1.7m vanity project when there are financial pressures elsewhere."

According to a News Shopper website poll last week, readers back the council's decision with 56% of readers voting in favour of the Tall Ships.

Greenwich will be the starting point for the Tall Ships Regatta over the Easter weekend from April 13 2017.