New £250m Culture Investment Fund launched

Economy & Politics | Funding | National

Innovative cultural projects, libraries, museums and creative industries will benefit from £250m of new funding for the culture and creative sector, the Culture Secretary announced today.

Of this new funding over £125m will be invested in regional museums and libraries around the country.  More than £90m will be provided to extend the Cultural Development Fund which uses investment in heritage, culture and creativity to drive regeneration and growth.

A further £18.5m has been allocated to York’s National Railway Museum, and an extra £7m for Coventry and the UK City of Culture programme.

In total, over the next five years, the Department for Digital, Culture, Media and Sport will invest an additional £50m each year in culture and the creative industries across England to revitalise existing assets and to support new cultural development.

Culture Secretary Nicky Morgan said: “Creative and cultural institutions are at the heart of our communities. The Cultural Investment Fund is the Government’s biggest ever single investment in cultural infrastructure, local museums and neighbourhood libraries and will benefit communities across the country. This will help drive growth, rejuvenate high streets and attract tourists to our world-class cultural attractions.”

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