£1.57bn investment to protect Britain’s cultural, arts and heritage institutions

Covid-19 News | Economy & Politics | Latest News | Leisure & Tourism
Royal Albert Hall

Britain’s globally renowned arts, culture and heritage industries will receive a £1.57bn rescue package to help weather the impact of coronavirus, the government announced today.

Thousands of organisations across a range of sectors including the performing arts and theatres, heritage, historic palaces, museums, galleries, live music and independent cinema will be able to access emergency grants and loans.

The money, which represents the biggest ever one-off investment in UK culture, will provide a lifeline to vital cultural and heritage organisations across the country hit hard by the pandemic. It will help them stay afloat while their doors are closed. Funding to restart paused projects will also help support employment, including freelancers working in these sectors.

Many of Britain’s cultural and heritage institutions have already received unprecedented financial assistance to see them through the pandemic including loans, business rate holidays and participation in the coronavirus job retention scheme. More than 350,000 people in the recreation and leisure sector have been furloughed since the pandemic began.

This new package will be available across the country and ensure the future of these multibillion-pound industries are secured.

Prime Minister Boris Johnson, said: “From iconic theatre and musicals, mesmerising exhibitions at our world-class galleries to gigs performed in local basement venues, the UK’s cultural industry is the beating heart of this country. This money will help safeguard the sector for future generations, ensuring arts groups and venues across the UK can stay afloat and support their staff whilst their doors remain closed and curtains remain down.”

Oliver Dowden Culture Secretary, said: “Our arts and culture are the soul of our nation. They make our country great and are the lynchpin of our world-beating and fast growing creative industries.

“I understand the grave challenges the arts face and we must protect and preserve all we can for future generations. Today we are announcing a huge support package of immediate funding to tackle the funding crisis they face. I said we would not let the arts down, and this massive investment shows our level of commitment.”

The package announced today includes funding for national cultural institutions in England and investment in cultural and heritage sites to restart construction work paused as a result of the pandemic. This will be a big step forward to help rebuild our cultural infrastructure.

This package includes:

  • £1.15bn support pot for cultural organisations in England delivered through a mix of grants and loans. This will be made up of £270m of repayable finance and £880m grants.
  • £100m of targeted support for the national cultural institutions in England and the English Heritage Trust.
  • £120m capital investment to restart construction on cultural infrastructure and for heritage construction projects in England which was paused due to the coronavirus pandemic.
  • The new funding will also mean an extra £188m for the devolved administrations in Northern Ireland (£33m), Scotland (£97m) and Wales (£59m).

Did you enjoy reading this content?  To get more great content like this subscribe to our magazine

Reader's Comments

Comments related to the current article

Leave a comment

Your email address will not be published. Required fields are marked *