Arts: Capital Investment

(asked on 19th June 2020) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, whether he has plans to promote investment in the art sector by (a) extending and (b) improving tax relief schemes for venues and creatives.


Answered by
Caroline Dinenage Portrait
Caroline Dinenage
This question was answered on 25th June 2020

The UK’s arts sector is one of our greatest success stories and we are doing all we can to support it through the pandemic. We are providing unprecedented assistance including a years' business rates holiday, government loans, the recently-extended Self Employed Income Support Scheme, the Job Retention Scheme that hundreds of organisations have received support from.

Additionally, DCMS has worked closely with its arm’s-length bodies to deliver tailored support packages at speed, including the £160m Emergency Funding Package announced by Arts Council England, made possible by Government funding. This intervention complements the financial measures already announced to ensure immediate resilience of this vital sector.

The package includes £140 million of support for artistic organisations, including venues, and £20 million of financial support for individuals, including freelancers, so they can better sustain themselves, and their work, in the coming months. To date more than 9000 individuals and organisations have been successful in applying for this emergency funding.

The Secretary of State, myself and officials continue to consult the Art sector extensively to ensure we fully understand the financial impact of the Covid-19 outbreak on the sector.

On the basis of that engagement, DCMS and ACE are continuing to work closely to consider the additional measures required to ensure the long-term recovery and growth of the cultural sector. We remain committed to opening up venues as soon as it is safe to do so and are working directly with the sector on detailed advice and guidance.

Reticulating Splines