Government is cutting back on its allocation for Carnival 2016 by about $45 million.
According to Minister of Culture Dr Nyan Gadsby-Dolly the recession is affecting Government's ability to fund the greatest show on earth.
With all government ministries cutting back on expenditure, she says its only natural that there will be less money spent on Carnival 2016.
The organisers of the 2016 Chutney Soca Monarch competition have announced Christmas Eve as the day for the opening or registration for those wanting to participate in the event.
The organisation is also confirming the introduction of a new title for Carnival – The Chutney Soca Road March Title.
The following is a media statement issued by the organisation.
"In 2016, the Chutney Soca Monarch will celebrate its 21st Anniversary.