THE UK SHOULD TAKE A LEAF FROM FRANCE'S BOOK TO BOOST ARTS FUNDING
Financial Times
The UK government's announcement last week of £60mn to support the creative industries is very welcome, but what if there was another untapped source of money to drive economic growth? The UK's creative industries are vital to the economy. Valued at £124bn, they are worth more than the life sciences, aerospace and automotive industries combined. Arts and culture alone contribute an impressive £34.6bn.
Beyond the economic value, the subsidised arts sector nurtures creative and technical talent and creates new intellectual property. Award-winning creators like Sam Mendes, Phoebe Waller-Bridge and Stephen Daldry honed their craft in the subsidised sector before generating billions through global franchises like James Bond and The Crown.
