The annual London fireworks display at the Lord Mayor's Show has been cancelled after police highlighted terrorism risks and concerns about getting people away safely if there was an incident.

The spectacular 20 minute firework display has become a traditional part of the Lord Mayor’s Show in November with road closures on Waterloo and Blackfriars Bridge so thousands of spectators could get a vantage spot.

The decision came after Chief Inspector Rob Wright told the City of London’s policy and resources committee that the threat of terrorism was now “severe” - meaning an attack is likely.

It comes in the wake of last year’s terror attacks at Borough Market at London Bridge and Westminster Bridge.

Last year the police used techniques to combat the threat of vehicles driving into the crowd at the fireworks display.

Chief Inspector Wright said this could “cause complications” for people leaving the event and the risk of people getting crushed.

He told the committee that there were concerns about safety and the event might need more than an extra 100 police to protect the public.

Committee chair Catherine McGuinness told councillors: “The advice we have been given is that it is not safe. I do need to be clear with you that’s the advice we have been given.”

Graham Packham said: “My instinct rebels, that this is terrorism stopping us leading our normal way of life.”

Councillor Randall Anderson told the committee “I really don’t think we have a choice.”

Councillor Jeremy Simons described being crushed at fireworks to celebrate the Queen's Silver Jubilee in 1977.

He said: "It is frightening to be caught in a crush. A potential crush is not something I wish to repeat."

Westminster council and Transport for London had already said they did not want Waterloo Bridge closed as long this year.

The City of London’s policy and resources committee “very reluctantly” agreed after a lengthy debate.

The corporation had already considered spending an extra £90,000 to ensure the event ran safely.

Councillor Marianne Fredericks said she did not like the fear of terrorism stopping people living their lives.

“One thing I make sure is I never stay at home and terrorism will not run my life," she said. "That’s a Londoner for you.”

She added: “It was different last year. You had those attacks on the bridge, but this year Waterloo Bridge has those barriers. You can keep people off the bridge.”

The corporation's highways director Ian Hughes told the committee other events in the capital such as the New Year's Eve fireworks are ticketed. However he said it was "questionable that we want to go ahead with that."

After the decision to cancel this year's display was agreed a spokesman said: “The City Corporation will now look to develop new proposals for a display in future.”