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Edinburgh International Book Festival is to trim its number of author events in the face of budget cuts. The annual event launched on Saturday (14th August). Nick Barley, the book festival director, said he expected cuts of at least 3.5% next year and expected to cut the number of events. But he added: "The festivals are economic powerhouses, not just for Edinburgh but Scotland and the UK as a whole. For relatively small investments, they generate huge returns."
According to the Guardian, the city's 15 festivals have all had unprecedented levels of public funding during the recession, although along with the fringe, the book festival is one of the most economic. It received £255,705 in core funding, but 80% of its income comes from ticket sales, book sales and sponsors.
All of Edinburgh’s 15 festivals including the international festival, book festival and the fringe are facing sharp falls in their government subsidies.
Creative Scotland faces a 10% to 15% cut in its government grant. A Scottish government spokesman said: "No government funding can be agreed until the comprehensive spending review. No decision has been made in either direction."