City challenged over finding more pennies for the Guy

The city, which is the birthplace of Guy Fawkes, last hosted a council-funded bonfire event in 2005 – on the 400th anniversary of the gunpowder plot.

Now despite the current financial climate, Labour councillors have pledged to host an annual city-wide celebration of Guy Fawkes which they claim could bring a huge boost to tourism in York.

Councillor James Alexander, leader of York Labour Group, said: "It is a massive shame that we don't seem to be celebrating something that is such a rich part of the city's heritage.

"It is just a lack of ambition on the council's part that something like this is not already up and running. They are not taking any action because of the costs but I'm sure we could make a Guy Fawkes festival self-financing and it could attract huge crowds into the city.

"We want to make bonfire night in York a famous event. The city is missing a trick culturally and economically without some sort of recognition that York was the birthplace of Guy Fawkes."

The Labour Group says the event could involve themed markets, projections on the side of buildings and smaller more cost-effective fireworks. A self-financing event paid for by ticket prices and could be organised next year if Labour takes power in council elections next May.

Coun Andrew Waller, leader of the Liberal Democrats in York, said the council wrote to nearly 13,000 households in the city last year asking if they wanted money to be spent on a fireworks display in York and 76 per cent of people said they did not.

He said: "There are already a lot of bonfire events run by community groups throughout the city and an event like this would be in direct competition with those.

"Putting people's council tax up in smoke is not really in keeping with the current financial climate that we are in."

Fawkes was born in York in 1570, probably at a house in Stonegate and went to school at nearby St Peter's.

In 1605 he was caught about to ignite 36 barrels of gunpowder underneath the Houses of Parliament with the aim of sparking a Catholic revolution.

He was executed in 1606.