Question to the Department for Digital, Culture, Media & Sport:
To ask Her Majesty’s Government what assessment they have made of the economic return to gross domestic product arising from each £1 invested in support for the arts.
A report called The contribution of the arts and culture to the national economy was published in May 2013 by the Centre for Economics and Business Research (CEBR) and showed that arts and culture make up 0.4% of the UK's gross domestic product. The report explained that for every £1 of gross value added (a measure of the economic value of goods and services) generated by the arts and culture sectors, an additional £1.43 of GVA is generated in the wider UK economy.