COI director of live events Simon Hughes said spending "efficiencies" would impact on government agency and departmental events, but the extent would remain uncertain until the forthcoming Budget.
"None of us really know what support will be required going forward to communicate new policy areas," said Hughes. "The 'more for less' mantra is front of mind."
When COI created its four-year events framework last year, it estimated the value of work for agencies on the roster to be worth £12m annually. Hughes said it was now unable to place a definite value on the roster. "We have no idea of what it might be valued at but I think £12m was a reasonable estimate," he said. "However, I don't think anyone will nail their colours to a mast and value the expenditure."
He added that the industry should be buoyed by the Tories' appreciation of events and their economic impact. "We have the Olympic Games coming up, and the World Cup bid, and they seem to recognise that global events have a tremendous impact on economic benefits," said Hughes.