Greenwich Conservatives are putting forward a motion to scrap spending on the popular Tall Ships Regatta.

The much-hyped boat race cost the council £1.74 million last year and has been branded as an "extravagant waste of money"

Conservative councillors propose that the money saved on scrapping the Tall Ships and funding from the Council Tax Freeze Grant should be spent on a welfare assistance programme.

Greenwich Councillor Matt Hartley labelled the Tall Ships as a "vanity project" that was being prioritised over the welfare of constituents.

He also said: "We're proposing an end to the council spending taxpayers money on vanity projects.

"If a way can be found for it to go ahead without a net cost to the council, fine, but at a time when there are financial pressures elsewhere, we don't believe that the council spending £1.74m on this is a good use of taxpayers money."

The proposed Welfare Assistance Plus programme would include council tax exemptions, an end to legal costs for residents in council tax arrears, an expansion of discrectionary housing payments and more incentives for employers paying the Living Wage.

Greenwich Conservatives leader, Spencer Drury, criticised the event for wasting people 's money and the council for failing to support people who need financial assistance.

Greenwich Conservatives leader Spencer Drury said: "The return of the Tall Ships Regatta - with its £1.74m price tag for council taxpayers last year - in 2017 will be seen by residents as an extravagant waste of money at a time when people on low or no incomes need financial support."

Greenwich Council stated more than 1.1 million people went to the Tall Ships Regatta last year and that local business was boosted by around £17 million over the five day festival in September.

The £1.74m spent on the Tall Ships was nearly ten times the original budget of £175,000.

The Welfare Assistance Plus motion will be put forward at the Greenwich full council meeting tomorrow.