The Exchequer has been a net benefactor on all the concerts at Stormont

Jim Aiken Concert promoter

Elton John was the first artist to play Stormont - a unique concert because the singer waived his fee.

Since then, public funds have been used to cover losses at other events.

'Unique venue'

Concert promoter Jim Aiken said it was the only way he could bring stars like Rod Stewart to Stormont.

"The Exchequer has been a net benefactor on all the concerts at Stormont, in terms of VAT and PAYE as well as the extra revenue generated for Northern Ireland's tourism and hospitality industries," he said.

Jim Aiken: Exchequer is net benefactor on concerts

"We go in on a site that has no sanitation, no power, no seats, no dressing rooms, no stage, no lights, no generators, no screens - that is a huge cost.

"If we were doing that in a football arena as we do in Dublin, there would be fencing, there would be sanitation, there would be power, there would be seats."

Sell-out audience

However, Sinn Fein said it was concerned that £300,000 had already been spent on the concerts.

More than £100,000 in public funds was pumped into the concert by world famous tenor Pavarotti - a trend that looks set to continue.

Rod Stewart is set to take to the stage in front of Parliament Buildings on 27 July and is expected to play to a sell-out audience.

Mr Aiken said the veteran rock star was looking forward to playing at the Belfast venue.

Stormont: Now a concert venue

The 57-year-old performer, who is famous for his gravelly voice, has sold more than 100 million records across the world since scoring his first number one hit with the enduring classic Maggie May.

Other hits have included You Wear it Well, Sailing, I Don't Want To Talk About It and Do You Think I'm Sexy.

He feared he would never sing again after having a cancerous lump removed from his throat nearly two years ago.