ARTS AND CULTURE SECTOR TO BE GIVEN £408M FUNDING BOOST
Updated: Mar 4
Museums, galleries and theatres are set to be given an extra £408m in crisis funding, as the lockdown is set to finally come to an end.
After many museums and theatres have already cut countless jobs, the arts and culture sector of the UK has been declining due to the pandemic. UK Chancellor Rishi Sunak is due to announce that more than £300m will be added to the 1.57bn Culture Recovery Fund, and national museums will receive £90m to help keep afloat until they are permitted to reopen on May 17th. Community cultural projects will get £18.8m, which includes £5m to turn a shopping unit in Wakefield high street into a community library, museum and gallery space named The Hub.
The announcement came after a former Conservative Party leader said taxes will go up as part of Britain's Covid recovery, after a year of borrowing to pay for furlough and other UK Government support efforts.
It is reported that the Government borrowing is set to hit £394bn this financial year, which is the highest yet.
The music, arts and culture sectors of the UK are of course extremely significant. In London, this is what the city thrives on. We believe announcement has been way overdue, and we can only hope the UK recovers from such dramatic losses the past year.