A school in Britain is putting the kibosh on extravagant proms.

The end-of-school prom has been scrapped in favor of a less expensive themed party, which is being decided by pupils. School principal David Harvey thinks things have got out of hand, "Last year we had a monster tractor which must have cost around £30,000 (43,438.03 USD)."

"When the prom first started seven years ago there were probably one or two stretch limos, but there have been more turning up every year."

But it's not the kids who are to blame for what's being called a "bling fest." "Parents were trying to outdo each other and we just felt that things were getting out of proportion."

One year, says Harvey, a parent shelled out so much money for their son to attend the prom. he insisted he get to attend even though he had been banned for disciplinary problems.

"Also with things a bit tight money-wise we thought it would be a good idea all round to get rid of the prom."

England's not the only place proms go over the top. More than $4 billion was spent on proms right here on American soil  last year, with prom-goers spending an average of $600 each, according to Conde Nast Bridal Group, publisher of the magazine Your Prom.

Do you think we should take a cue from our Brit cousins and ban extravagant proms?