A SIGNATURE annual event which brings hundreds of visitors to a village every year has been cancelled.

Coniston’s Record Week will not go ahead this year after organisers failed to secure a temporary bylaw change allowing the event to run.

It was due to take place in November but the Royal Yachting Association withdrew itself as the national governing body for powerboat racing.

It meant negotiations over securing an exemption from the 10mph speed limit on Coniston Water are now ongoing with the Lake District National Park Authority.

Organisers have described the talks as 'a lengthy process', with permission needed from the Government.

A community leader said the event’s absence would be 'devastating' for the village.

A spokesman for the event said: “Following the withdrawal of the Royal Yachting Association as Powerboat Racing’s national governing body in the UK, negotiations with the Lake District National Park Authority (LDNPA) have been ongoing to attempt to amend the existing bylaw.

"It was hoped that minor amendments in the wording to the bylaw would be an acceptable solution, however, in the latest meeting with the national park we have been informed that there can be no alternative to the full consultation and ministerial approval process.

"Going forward, we have commenced the process to revise the bylaw but this is a lengthy process and includes review and approval from the Secretary of State, a process that will take several months. We cannot therefore guarantee a new bylaw will be in place for the 2019 Records Week in November.

"It is therefore with great disappointment we have taken the decision to allow Records Week to have a lay year.

"We know many of you will share the Records Week Committee’s emotions. We have made the decision now to allow officials, competitors, spectators and local businesses to make alternative plans.

"We are looking forward to Records Week returning to Coniston in 2020 with provisional dates being announced in due course.”

Coniston councillor Anne Hall said: “It’s devastating for the businesses.

“The bed and breakfasts and the hotels will suffer because a lot of people like going to the event.”