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The Government has announced a £1.57 billion package of support for the UK arts and cultural sector, which contributes approximately £32,3 billion to the UK economy and employs around 680,000 people.
This package includes nearly £900 million in grants, plus an additional £270 million in repayable loans. Altogether, this represents the largest-ever one-off investment in UK culture, and is intended to be a lifeline to cultural and heritage organisations hit hard by the pandemic.
The package is in addition to other Government measures to support the sector, including loans, businesses rates relief and the Coronavirus Jobs Retention Scheme.
John Baron MP (Basildon and Billericay) commented:
“This announcement will be welcome news to the theatres, heritage organisations, historic buildings, museums, galleries, live music venues and independent cinemas which have been badly affected by the coronavirus pandemic.
“It will help them stay afloat during these difficult times, and will help protect our multi-billion arts and cultural sector, which is justifiably famous throughout the world, during this outbreak.”
Image: UK Parliament
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