MORECAMBE'S successful punk festival looks set to return next year after giving the local economy a £1 million boost -- for an outlay of just £3,000.

Lancaster City Council is next week set to give the go-ahead to next year's event, despite continuing worries about the use of the Festival Market.

Traders were furious last year to hear that they were to miss out on one of the busiest weeks of the year.

Festival organisers insist that the market is the only venue big enough to attract big name acts.

A report to the council also reveals that the festival -- which saw hotel rooms and campsites packed and some visitors staying as far away as Lancaster University and Truckhaven, Carnforth -- will effectively cost the council as little as £3,000.

Councillors offered promoters a £15,000 subsidy to bring the event to the resort. However, the council's leisure services division ran a number of bars opened especially for the event.

As well as running at a profit, the newly built bars have also been opened for other events, such as the Worldbeat festival.

A report also revealed that the council over spent by £6,000 on Wordlbeat, almost £7,000 on the Maritime festival and £2,800 on the Georgian festival. The Heritage Gala under spent by £2,179.

Plans for next year's events are to be discussed by the council's cabinet on Tuesday.