Edinburgh is to host this year's MTV Europe Music Awards.

First Minister Jack McConnell says the decision to hold the ceremony in Scotland is a feather in the nation's cap and will have spin-offs for the economy.

Some �750,000 of public money has been paid to MTV as a contribution towards the cost of staging the event at the Ocean Terminal in Leith, it has emerged.

A number of tickets will go on sale to the public about six weeks before the awards in November. The prices have not yet been revealed.

What's your reaction to the awards coming to Scotland? Do you think the economy stands to benefit? Should public money be used for such purposes? Tell us what you think.

This forum is now closed. Read your comments below.

Of course it should - but let's not forget, Leith Theatre a few hundred metres from the proposed venue lies empty and decaying. The Customs House is a spectacular building currently used as a store room. Let's see some lasting spin-off for the local community - Leith is great and should be a kicking venue for the arts all year round. Let's rock...
Andrew McKay, Leith

The MTV awards are nothing but a few hours of over-indulgence, chest-beating and back-slapping by some of the most over-rated numpties on the planet. Hosting this event is nothing for Edinburgh to be proud of. It may well bring some much-needed money to the hotel and entertainment industry, but it's certainly of no long term benefit to Leith or Edinburgh.
Andrew Findlay, USA

It's a brilliant idea. It's nice to see government money being "wasted", so to speak, on something different other than war or the NHS. Although Scotland will get the majority of the credit, it will hopefully reduce the gap between the UK and mainland Europe.
Gareth Griffiths, Wales

I think this is brilliant news for Scotland. Maybe now some of the stars will recognise that Scotland is a country, a part of Britain, and recoginse that we buy the music as well as our English counterparts.
David Kerr, Angus, Scotland

How brilliant. This will be a good to show off what Edinburgh and Scotland has to offer, and to showcase local music!
Hannah, England

Yet more precious time and money is going to be wasted on the increasingly concerning pop/glamour industry. Scotland has sold itself just like the rest of the western world!
Tony Tuff, Scotland

I think this is a great idea, but what are all those Glasgow punters moaning about - you get everything. I can't wait!
Bob, Scotland

I like the idea of it being in Scotland. That way we can see more of Darius.
Hayley, UK

In a history of daft financial decisions this has to be one of the worst.
Campbell Orr, Scotland

Brilliant news for Scotland - some great exposure for the country and its capital city! Let's just hope us locals will manage to get tickets and it won't just be one for us to watch on the telly! And Alisdair Matheson, aren't the Proclaimers from Auchtermuchty in Fife? More than just a step from Edinburgh.
John Mck, Perth, Scotland

I am very glad that the MTV awards are coming to Edinburgh as Edinburgh hardly ever gets as big acts and gigs like this. Normally cities like Glasgow do as they have bigger venues like the SECC.
Katy, Scotland

Typical that Edinburgh gets to host the event. It would have been nice if the parliament could cast their eyes over Edinburgh and look in another direction.
Greg, Glasgow

Leith? The "stars" will be mugged within seconds. A bonanza for neds is the only way to see this, poor Eminem will have been "chibbed" before he can say Slim Shady.
Allan Bell, Scotland

Music appeals to a huge portion of the population whereas other projects that have government funding appeal to a small minority. Therefore many people will benefit from the money being spent in this way.
Lesley Forster, UK

I am a teenager from Edinburgh, I think that it is a fantastic idea to have the awards here, it might seem like a lot of money to spend on an event of this nature but I think that it will attract many visitors to come here and it will be a great and enjoyable event. I hope I can get a ticket!
Caroline Creamer, Scotland

Great to have it here. Let's hope that it's not simply a way of lining the pockets of the few usual suspects.
Bobby, Scotland

This is ridiculous. I asked the council for �5000 to help pay for the Haggis Awards (the Scottish Country Music Oscars) and they turned me down yet they are willing to spend money like this. Madness.
Hamish, Scotland

That's �750,000 well spent. The exposure Edinburgh will get from the event and other spin-offs will be worth every penny. Personally I would have paid it myself just to get Kylie here.
Ali, Scotland

What a complete waste of money - is this Jack McConnell's attempts to attract interest by young people in politics? Apart from the usual minority "liggers" this event will do nothing to benefit the taxpayers of Scotland - ie. cutting hospital waiting lists, raising school standards, investing in public transport systems etc, etc.
Tino, Scotland

At �125 of public money per audience member I really hope that Scottish Enterprise have done their sums properly for once. Is the MTV demographic really going to pay much attention to which country the broadcast is from, as opposed to, say, what their favourite pop star is wearing? And if it is such a big deal, why only a 6,000 seater facility - why not go to Murrayfield and get 67,000 Scots there if indeed it is going to be such a "feather in the nation's cap"?
Craig , Scotland

I'm disgusted by this abuse of taxpayers' money. I thought the whole idea behind taxes was that people paid for public services, not parties for multi-millionaire mainstream musicians.
Owen Duffy, Scotland

Why were they given �750,000 of the taxpayer's money to help pay for it? With the money they make they can afford to pay for it all themselves. Another waste of my taxes. They should give that money to the NHS or to youth projects!
Niki, UK

Why build a new venue? What was wrong with the SECC? After all apart from the Proclaimers, Glasgow's music scene has produced a lot more than Edinburgh's.
Alisdair Matheson, Scotland

I think it would be great for the economy. I lived in Ottawa and we just had the Junos (Canada's music awards). It was an absolute money-making venture as it was the year before in the small city of St Johns Newfoundland. Being from a Scottish background I say "Good on you!"
Fionna Wilson, Canada

�750,000 - cheap. Good investment. Best thing our parliament has done. Ever.
Paulo Amore, Scotland