Government £1.57bn package of emergency grants and loans for the cultural sector 7 Jul 2020
The Government has announced a £1.57bn package of grants and loans for the cultural sector, to help it weather the effects of Covid-19. The funding breaks down as follows:
- £1.15bn of grants and loans to be spent in England, consisting of £270m in repayable finance on generous terms and £880m in grants.
- £100m for national cultural institutions in England and for English Heritage.
- £120m to restart construction on capital investment projects paused in England due to the coronavirus.
- £188m for the devolved administrations consisting of £33m for Northern Ireland, £97m for Scotland and £59m for Wales.
Detail and individual awards will be organised working alongside ACE, NLHF, Historic England and other specialist bodies. Culture Minister Oliver Dowden said “I understand the grave challenges the arts face and we must protect and preserve all we can for future generations…I said we would not let the arts down, and this massive investment shows our level of commitment.” Neil Mendoza, recently appointed Commissioner for Cultural Recovery and Renewal said that the package is the result of “intense work over many weeks to create a vital and necessary national cultural stabilisation package for arts, music, heritage and museums”. In a statement, NMDC said “this funding is a signal that the Government is committed to supporting our essential national and regional institutions through this challenging time. The capital investment will help avert a secondary crisis for existing grant holders that are already part way through capital initiatives, ensuring that these vital projects can deliver their intended public benefits.” Gov.uk, Arts Professional, M + H, The Art Newspaper, NMDC (statement)