A maximum of £40,000 will be taken from Monmouthshire County Council (MCC) reserves to fund a cycling event in the county this September. The 2014 Tour of Britain will be passing through and finishing in Monmouthshire on Tuesday 9th September. Last year's event travelled through Caerphilly and attracted over 33,500 visitors to the event with over 5,154 staying overnight in the area. A net expenditure equated to £1.67 million from spectators and visitors at the event. According to a report published by MCC the Tour of Britain is the UK's biggest 'free-to-attend' sporting event with over 1.5 million spectators. Cabinet met last Wednesday (7th May) to approve a £40,000 withdrawal from council reserves for the event. £30,000 is to be taken as a fee for the organisers with a further £10,000 budget to be taken for street cleaning, highways and park and ride considerations. Councillors praised the impact an event such as the Tour of Britain would have on the county. Head of resources at MCC, Councillor Phil Murphy, said: "I know this calls for a draw on reserves, which are tight, but the benefits of bringing an event like this to Monmouthshire far outweighs any other considerations. "It's an opportunity we cannot afford to miss." Councillor Phil Hobson said: "The event will be a great advertisement for Monmouthshire, it's publicity that we wouldn't be able to afford under normal circumstances. "I'd like to know what we can do to ensure local businesses get something out of it and what package can we deliver to local businesses in the area." Kellie Beirne, chief officer for regeneration and culture, said: "Locally the tourism team are doing a great deal. "We musn't forget that this is a one off event and people will be coming back wanting to ride the route of champions." Councillor Dimitri Batrouni was unsure about "taking money from the general pot" as he didn't feel the event would benefit everyone in Monmouthshire. He expressed concern about what children with special needs would get from the event. Councillor Batrouni was reminded that not all events would be for everyone, but that cycling was a pretty inclusive sport. Kellie Beirne explained to Cllr Batrouni that Monmouthshire's economy would receive a huge boost through this event and a strong economy would benefit everyone. She said: "Cycling won't benefit everyone but it will secure a successful economy which will benefit vulnerable people. "Everyone benefits from a strong economy." Councillor Bryan Jones said that businesses would need to be informed about potential road closures and that routes should be published well in advance so they can prepare. For more details about the Tour of Britain, visit: http://www.tourofbritain.co.uk">www.tourofbritain.co.uk