VANCOUVER – The iconic Vancouver waterfront fireworks festival that has been held for more than three decades has been cancelled indefinitely due to financial difficulties.

In a statement, the Vancouver Fireworks Festival Society says it had been reaching out to government and business communities for months but can no longer “keep the event afloat.”

It says production costs have risen over the last three years while federal funding has been eliminated, provincial funding has been drastically reduced and private-sector investment declined.

The decision comes as the society was in the process of making financial commitments to host next year’s event and determined it was no longer feasible to move forward.

It says it had introduced ticketed seating and viewing lounges in recent years in

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