A scaled back version of Gay Pride is underway in Westminster.

There had been fears that Pride London, which also incorporates World Pride 2012, would be cancelled due to funding problems.

I'ts kicked off without a hitch, with a walking procession from Baker Street to Whitehall. But there will be no floats or other vehicles involved.

This will be followed celebrations in Trafalgar Square until 6pm.

Soho is expected to be busy throughout the day.

Last week the boss of London’s annual Gay Pride celebration quit after organisers axed key events at the last minute.

Pride London chairman Patrick Williams resigned after the event, which usually attracts one million people, was drastically scaled back because of a cash crisis.

Gay campaigner Peter Tatchell warned that it risked descending into “mayhem” and called on City Hall to provide emergency funding. But so far the event has passed off without any significant problems.