The Department for Social Development has decided to stop it's annual Laganside Events Grant from the 31st of March 2012. Over the years the likes of the Open House Festival, CAQF, Festival of Fools, Culture Night and Belfast Pride have all benefited from the grant.

Letters have been received by previous recipients of the funding, alerting them to look for other potential sources of income for their events. Sean Kelly, director of the Cathedral Quarter Arts Festival believes that the cuts place many cultural. "The funding for CQAF essentially helped pay for the set-up costs of the Marquee in Custom House Square which becomes difficult without this funding (so late in the day.) Essentially we scale back our plans or look at raising ticket costs to cover the shortfall."