All 5 entries tagged Recession

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November 11, 2010

Arts funding after the CSR

The recent Comprehensive Spending Review has triggered a couple of strategic documents on the future of arts funding in the UK.  From the DCMS, a Business Plan for 2011-2015which talks in vague terms about a huge range of areas from Olympics through libraries to arts funding. Those who've been following the pronouncements of Jeremy Hunt won't be surprised to hear that the main plank in the arts & culture world is to encourage a "culture of giving". My favourite line is

"We want to see our cultural institutions adapt their business models, liberating them (my italics) to raise and spend money as they see fit"

According to the timeframe, we can expect to see proposals in December 2010 for how they will incentivise giving from individuals to cultural institutions.

Meanwhile, Arts Council England brought out "Achieving great art for everyone: a strategic framework for the arts", based on a consultation process earlier this year. Some key points:

  • A mixed economy of funding
  • Re-affirmation of the arm's length principle - "not short-term instrumentalism" driven by politicians
  • Support for "original, innovative & artistically ambitious ... work"
  • Encouragement to pool resources, build collaboration & partnerships
  • Importance of involvement in the arts from an early age

August 27, 2010

Arts funding in a cooler climate

Arts & Business have just published a study called "Arts funding in a cooler climate". It shows that in 2008/9 public funding of the arts in the UK rose by 5%, but funding from private sources fell by 7%. This of course does not bode well - with the new government slashing funding in all directions, it seems highly unlikely that the private sector will fill the gap.

January 14, 2010

Private investment in the arts falls

According to a press release by Arts & Business today, private sector investment in the arts fell by 7% during the financial year 2008/9. And according to the Guardian, arts organisations fear a 20% cut later this year from government.

July 17, 2009

Global financial crisis : impact on the arts

The International Federation of Arts Councils & Culture Agencies (IFACCA) has just published a report with the unsurprising conclusion that the international financial downturn will have a strongly negative effect on sponsorship, philanthropic giving and endowment income. Here's the brief description.

April 27, 2009

Arts Council England announces new £40m hardship fund for arts groups

The Arts Council has announced an emergency package of £40 million to help arts organisations hit by the recession.

Arts & Business are also reporting a substantial drop in both public sector and private funding. For more information, see this piece in Saturday's Guardian.

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