Saving the Arts: A Bold Solution to Revive UK’s Creative Industries

Summary:

The UK government recently announced £60 million in funding for the creative industries, a sector worth an impressive £124 billion. It’s a vital part of the economy, contributing more than the life sciences, aerospace, and automotive industries combined. However, despite its importance and global successes like James Bond and The Crown, the subsidised arts sector is struggling. Between 2009 and 2023, government funding for culture fell by 18%, while local government arts funding in England dropped by a staggering 48%. Many arts organisations now face serious financial difficulties.

One potential solution is for the UK to adopt a policy similar to France’s Aillagon law. This policy encourages corporate donations to the arts by offering companies a 60% tax relief on their contributions. In France, it has been a game changer, with corporate arts funding growing from €1 billion in 2004 to nearly €4 billion by 2018. Institutions like the Louvre and the Centre Pompidou now rely on this funding, and it even helped raise €850 million within 72 hours to restore Notre-Dame cathedral.

By comparison, the UK has barely scratched the surface of corporate arts funding. FTSE 100 charitable donations have fallen by 34% in the past decade, and only 30% of corporate sponsorship goes to the arts. Critics of tax incentives argue they shift costs onto taxpayers, but proponents highlight the wider benefits such as new jobs, increased tourism, and stronger communities.

A UK version of the Aillagon law could reduce dependence on public funding, while encouraging businesses to support the arts and fostering closer collaboration between culture and commerce.

My Opinion:

The UK’s creative industries are a cornerstone of our economy and cultural identity, but they’re in real danger without urgent action. While the government’s £60 million investment is welcome, it’s not enough to address the scale of the crisis. Introducing a policy like France’s Aillagon law could completely change the game for arts funding here.

What France has done is show how smart incentives can make businesses enthusiastic supporters of the arts. Sure, there’s a fair concern about the cost to taxpayers, but the payoff is huge. A thriving arts sector doesn’t just generate economic benefits through jobs and tourism but it strengthens communities and helps shape how the world sees us.

The government can either let our creative industries wither under financial strain or take bold steps to secure their future. A policy like the Aillagon law wouldn’t just fix a funding gap; it would build a more sustainable arts sector for the long term. It’s not just about saving the arts but it’s about investing in a sector that defines who we are and where we want to go as a nation.