The new mayor of Doncaster has backed down on his promise to cut funding for the town’s annual Pride festival.

Peter Davies, an English Democrat, had vowed to cut spending on the event, saying: “I don’t think councils should be spending money on them [gays and lesbians] parading through town advertising their sexuality.”

Last week, he was forced to admit in a radio interview that he had no idea how much revenue the event generated for the town

In statement released on Friday, Davies said: “The Gay Pride event has been planned for some time and the funding already committed. In the circumstances, I believe I should honour this commitment and the event will go ahead. I will continue to work with the Pride Committee.

“My main concern for my term is that we get value for money from public spend on quality front line services.”

A spokeswoman from the Doncaster Pride Committee said: “Doncaster Pride committee is very happy with the outcome of the discussions we’ve had with the council since the election.

“We have secured the commitment to fund this year’s event and also to open dialogue to discuss future years events as well as wider LGBT issues, so that we can continue to provide a great day out for Pride as well as give our community a voice on important issues.

“We thank everyone for their support, help and solidarity and wish to express our thanks to the officers within the council who have assisted us come to this positive solution.

“All that remains now is to extend an open invitation to everyone to come to Doncaster Pride on 16th August and join in the party in a peaceful and harmonious way.”