Bermuda's 400th anniversary celebrations are not being run on a "shoestring" despite a cut in funding, one of the organisers insisted yesterday.

Bill Holmes, deputy chairman of the Bermuda 2009 steering committee, told The Royal Gazette that the scale of the quadcentennial events had been downscaled due to the economic downturn.

But he said the year-long celebrations would still cost at least $3.5 million — with half coming from private sector donations and the rest from public funds.

"Our programme, that we have promoted and sent out and everybody has seen, is fully funded," he said. "The business community and Government have been very generous. It's not as though we are doing this on a shoestring."

Culture Minister Dale Butler told the House of Assembly on Friday that the money Government had pledged for the Bermuda 2009 celebrations had been cut from $5 million to $2 million.

Mr. Holmes said: "The $5 million figure was when times were a little bit better and we had grander plans. The $5 million figure is probably from two years ago.

"Certainly, I know events were scaled back as the economy worsened but the $5 million might have been something in 2007 when we felt we were going to have a major international artist come for a concert. All those things are no longer in the programme."

The Bermuda 2009 Charitable Trust has so far received more than $1.25 million in pledges from the business community and Mr. Holmes said he did not expect that figure to rise significantly.

He explained that Government has promised to match private sector donations up to $2 million but may not have to spend the full amount. "The most it could cost would be $4 million based on the budget numbers reported," he said.

He added: "With the monies in hand and money we have been promised we know we will be able to fully fund the schedule of events we have published."

Mr. Holmes said despite the decrease in funding he still expected the celebrations — marking 400 years of continuous habitation on the Island — to be a big success. More than 50 organisations are involved, with scores of events happening throughout 2009.

"It's going to be a different kind of celebration," he said. "I wouldn't ever say one was better, one was worse."

Finance Minister Paula Cox told the House of Assembly in her Budget statement that Government had also set up a Cultural Legacy Fund to mark the 400th anniversary, launching it with $100,000.

"In the future, private sector organisations will be encouraged to contribute to the fund," she said. "This fund will be used to promote, transform and preserve Bermuda's arts and culture through support of cultural initiatives of national significance."

Bermuda 2009 chairman Conchita Ming is off the Island so could not be contacted. Mr. Butler could also not be reached.

l Visit www.bermuda2009.bm for more information on the 400th anniversary celebrations.