Britain's most famous bell will not ring in Brexit on 31 January due to financial and logistical issues.
The issue was discussed at a meeting of the House of Commons Commission yesterday.
However, it was ultimately ruled out after it was revealed that it would cost £500,000, which is up from the original estimate of £120,000, for Big Ben to ring in Brexit.
The expanded budget stems from the need to put in and remove a temporary floor in order to ring the bell.
Prime Minister Boris Johnson confirmed this morning that the bell will not be rung at 11pm on 31 January due to the cost but alternatives were being looked at, including crowd-funding.
"But we are working up a plan so people can bung a bob for a Big Ben bong," Mr Johnson said.
"As everybody knows Big Ben is being refurbished, they seem to have taken the clapper away. So we need to restore the clapper in order to bong Big Ben on Brexit night and that is expensive."
Big Ben fell silent in 2017 for four years of renovation work, the longest period in its 157-year history that is has been silenced.
While there was nothing fundamentally wrong with the tower, work needed to be carried out to protect it for the future.
The renovation work includes restoring the tower's roof, repairing the bell frame, installing a lift and dealing with leaks into the clock room.
Each clock face, which contain around 312 pieces of glass, will be re-glazed and crumbling stone work repaired.
Conservative MP Mark Francois told the Daily Telegraph he was "very disappointed" with the commission's decision.
"I've already offered to go up Big Ben myself, ably assisted by (European Scrutiny Committee chair) Bill Cash, to ring the bell myself to save money," he said.
"If all else fails, the BBC must have a recording of Big Ben chiming they could play at 11pm at no cost whatsoever to taxpayers."