Government announces £1.5bn Arts sector rescue package

£1.5bn Arts sector rescue

The government today unveiled a £1.5billion rescue package today to protect Britain’s world-class cultural, arts and heritage institutions, to help with the impact of coronavirus.

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 multi billion-pound industries are secured.

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:

  • £1.15 billion support pot for cultural organisations in England delivered through a mix of grants and loans. This will be made up of £270 million of repayable finance and £880 million grants.
  • £100 million of targeted support for the national cultural institutions in England and the English Heritage Trust.
  • £120 million 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 £188 million for the devolved administrations in Northern Ireland (£33 million), Scotland (£97 million) and Wales (£59 million).

Decisions on awards will be made working alongside expert independent figures from the sector including the Arts Council England and other specialist bodies such as Historic England, National Lottery Heritage Fund and the British Film Institute.

Repayable finance will be issued on generous terms tailored for cultural institutions to ensure they are affordable. Further details will be set out when the scheme opens for applications in the coming weeks.

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