The event, similar to the Commonwealth Games but for French speaking countries, had been due to go ahead in the Canadian province after Moncton-Dieppe was chosen as host in 2016.

However, New Brunswick's Government has now said they will not host the Games with estimated costs consistently rising in the past three years.

Originally it was estimated that the Games would cost CAD$15 million (£8.7 million/$11.4 million/€9.9 million), but that figure has since risen to CAD$130 million (£75 million/$99 million/€86 million), an increase of 766 per cent.

"This was a very difficult decision [to cancel the Games]," the Premier of New Brunswick Blaine Higgs told The Canadian Press.

"We wanted these Games to go forward."

Higgs added, however, that to host the event at such a cost without support from the Federal Government would be "irresponsible".

According to the Canadian Broadcasting Corporation, the 2021 Francophonie Games Organising Committee sent a letter to the New Brunswick Government to slash the projected budget to CAD$62 million (£36 million/$47 million/€41 million), but the move was not enough to change their mind.

Higgs reportedly called the new figure "suspect".

He said: "Once you get into the programme and you start spending money, do we get back up to the 80 [million Canadian dollars]?

"Do we get back up to the 130?

"We can't let this drag on."

In response the Organising Committee said they were disappointed in the decision but accepted it.

However, The Canadian Press quoted Intergovernmental Affairs Minister Dominic LeBlanc as saying Higgs "planned all along to scuttle the Games".

"We had a number of conversations that I think led me to conclude that Mr Higgs never had any intention to come up with a serious proposal that would have allowed the Government of Canada to meet its longstanding commitment of 50 per cent [of funding]," he said.

Higgs, who became Premier of New Brunswick in November, previously said the province would only spend CAD$10 million (£5.8 million/$7.6 million/€6.6 million) on the Games.

Meanwhile, the Federal Government had always stated it would only match New Brunswick's figure.

In a press conference, Higgs reportedly said the Games should still be held in Canada, but hosted by more than one province.

He also added that if the Federal Government wanted to take over but keep New Brunswick as hosts, then he would accept that.

The International Organisation of the Franophonie said it regretted the news and would examine the "consequences" of New Brunswick's decision to withdraw as host.