THE Oxford Folk Festival, which attracts thousands of music fans to the city every year, has been cancelled because of rising costs and the recession.

This year would have been the 8th event, but despite announcing an impressive line-up of bands and artists, organisers pulled the plug.

Fans and performers were notified of the cancellation by a message on the festival’s website.

The statement read: “Despite having booked a great roster of artists for this year a number of factors are making it impossible for us to hold the festival in 2011.

“In the current economic climate people are, understandably, more reluctant to commit their hard-earned cash to buy tickets in advance, whilst also costs have increased, with the VAT rise contributing amongst other factors.

“We have made as many econ-omies as we can but with the increasing costs of venue and equipment hire, insurance and so on it ís simply not financially feasible to continue the festival this year. We really hope to be back in the future.”

Holders of tickets, which cost £64 for the weekend, can claim a full refund. The statement went on: “We will not breach the trust we have built with our customers and suppliers at any price.”

Acts booked to play this year included Abingdon melodean player John Spiers and musical partner Jon Boden, Celtic fusion act The Peatbog Faeries and comedian Adrian Edmundson with his punk-folk act The Bad Shepherds.

The festival is organised by Tim Healey, from Oxford, who was yesterday unavailable for comment.

Last year, more than 30 morris dancing sides from across the country attended, entertaining crowds at locations around the city centre.

Ronan Munro, editor of Oxford’s monthly music magazine Nightshift, said: “It’s a real shame that the festival has been cancelled.

“Oxford has always had a great folk tradition which often doesn’t get noticed, and this festival brought it all togther. Without any great fanfare it became a great part of the local music calendar.

“Having it disappear is a great disappointment and I feel very sorry for Tim Healey, who worked so hard to make it a success.

“People often underestimate the effort involved in putting on an event like this. It’s a huge labour of love.”

Graham Jones, spokesman for Oxford’s High Street Business Association, and retail campaign group Rescue Oxford (ROX), said he was very disappointed.

He said: “I am sad about it, and not least because I was planning to go this year. Perhaps organisers may have been a bit premature but I can understand their worries.

“People are holding back this year until they are sure what their financial situation is before they commit to buy tickets for things like this.”