Arts Council announces funding plans to 2022 6/10/2016
The Arts Council has announced its funding plans for the 2018–22 period, with a budget of £622m per year for its main funding streams: National Portfolio, Grants for Arts and Culture and strategic funds (all of which can now receive bids from museums, following recent merges in the funding system). Applications to the National Portfolio open on 26th October. ACE Chief Executive Darren Henley said he welcomed the ‘standstill settlement’ from the government and that ACE plans to spend down its lottery reserves. Highlights of the settlement include:
- There will be an increase of £37m per year for the National Portfolio to £409m. The extra money will be spent to increase NPO funding outside London by 4% and bring new, small and diverse bodies into the portfolio.
- Grants for Arts and Culture will also see a budget increase of £10m to £87.5m, allowing the integration of bids from museums and libraries.
- Strategic funds remain at £125m, with a focus on areas with low cultural engagement and on increasing diversity.