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The black-tie event, which is usually held on January 26 each year in London, was estimated to cost $55,000 this year if it were to go ahead.
Opposition leader Peter Dutton has slammed Australia's UK High Commissioner Stephen Smith, saying he 'doesn't believe in Australia' after Mr Smith moved an Australia Day fundraiser.
By Eleanor Campbell for Nca Newswire
Perth Festival calling for young artists, Newcastle Museum and Art Gallery receives extended funding, plus finalists of St Kilda Festival Music Competition, and more!
Anthony Albanese's high commissioner to the UK has scrapped the annual Australia Day fundraiser, citing 'sensitivities' over the controversial public holiday.