No Spending Cuts
The Latest News || Wednesday, 10 October, 2007
The Treasury has confirmed that there will be no cuts made to funding of the Department for Culture Media and Sport, the government department that provides funding to Arts Council England, for the next few years at least.
Instead there will be an increase in funding, in line with inflation at 2.7%, starting in 2008.
Following earlier cuts of £29million per year that ACE made to the Grants for the Arts programme there were fears across the board that funding supplied directly from central Government would also be cut to help pay for the London Olympics in 2012.
Because the rise is in line with current inflation levels there is little chance additional funding will be available to plug the hole in Grants for the Arts which is financed through the National Lottery.
UPDATE: DCMS have announced that funding will rise by a further 1.1% above inflation. This amounts to an increase of £28million by 2011.
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