The public money spent on the arts in Britain is responsible for creating substantial growth among commercial creative industries, which also helps to strengthen the wider UK economy, according to a recent report backed by business leaders.
The Creative Industries Federation was behind the report and John Kampfner, chief executive of the federation, said that public money was vital for supporting the continued prosperity of the arts sector, which is needed “not just for the good of society, but to nurture some of the best talent for our creative industries”.
Mr Kampfner also said: “There is nothing ‘nice to have’ about the arts and the creative industries, there is nothing tangential, nothing ‘soft’.
“They are central to our economy, our public life and our nation’s health.”
Highlighted in the report is the fact that the arts and culture sector is worth an estimated £7.7bn in gross value to the UK economy.
It also claims that for every pound of public money invested in arts and culture, an additional £1.06 is generated for the economy.
The report was published alongside a similar report commissioned by Arts Council England, which assessed the macroeconomic contribution of arts and culture across Britain.
In recent estimates, approximately one in 12 UK jobs rely on the creative economy, and employment statistics for the sector show an increase of five per cent between 2013 and 2014, compared with a 2.1 per cent increase in jobs across the wider economy.