THE future of one of Hampshire's oldest and most popular carnivals hangs in the balance as organisers hold critical talks this weekend.

Rumours are rife that organisers may be forced to end 126 years of tradition and cancel the Titchfield Carnival celebrations.

Today, in line with tradition, the carnival princess is due to be named at the St Peter's Summer Fete in Titchfield, but organisers have promised that further announcements will be made.

Over recent years the popular event has faced much speculation that its days are numbered due to escalating insurance premiums, changes to advertising regulations and increased police charges.

Bad weather has also plagued the carnival with torrential rain washing out the procession over the past two years.

Organisers have already been forced to do away with tradition in a bid to keep this year's carnival afloat due to expensive security costs. Last year they were hit with a bill for £16,000, so the decision was taken earlier this year to move the date from the last Monday in October to September 30.

However, many are fearful that today's announcement could spell the end for the rolling cavalcade.

However, Julian Gibbs, vice-chairman of the Titchfield Bonfire Boys, who organise the event, has promised that once the critical discussions have taken place, the residents of Titchfield will be the first to know of any developments.

He said: "Discussions regarding the carnival have reached a critical stage and once decisions have been made we think that it is only fair that Titchfield residents are the first to know.

"We have made changes to the carnival, including the date, to help ensure its survival, so whatever decisions are made it will not follow the same traditions as in the past."