The Department For Culture, Media and Sport Announce £77 Million Of Funding For The Creative Sector

Source: Photo by Ugur Akdemir on Unsplash

The Department for Culture, Media and Sport (DCMS) announced the Government's plan to grow the creative industries by £50bn and support a million more jobs by 2030, with £77m of new funding for the sector announced. 

One of the Prime Minister’s priority sectors for economic growth, the creative industries are a global British success story growing at more than 1.5 times the rate of the wider economy over the past decade and contributing £108 billion in gross value added (GVA) annually.

Employment in these industries has grown at five times the rate of the rest of the economy since 2011. Speaking at the London Tech Week conference on Monday, Prime Minister Rishi Sunak said that Britain’s creative industries were “going like gangbusters” and represent a “unique strength” for the country.

Developed with industry via the Creative Industries Council, the Creative Industries Sector Vision published last week sets out shared ambitions to build on that success and maximise the growth of the creative industries by £50 billion by 2030, creating one million extra jobs and delivering a creative careers promise that builds a pipeline of future talent.

Framed around the key principles for driving growth  – facilitating innovation and investment, alongside building a skilled workforce – the Sector Vision is backed by £77 million in new government investment for the sector.

The Prime Minister, Rishi Sunak, said:

"Backed up with significant new funding, this ambitious plan will help grow the sector by an extra £50 billion while creating one million extra jobs by 2030."

Culture Secretary Lucy Frazer said:

"The government is backing our creatives to maximise the potential of the creative industries. This Sector Vision is about driving innovation, attracting investment and building on the clusters of creativity across the country. And from first days at school to last days of work, we will nurture the skills needed to build a larger creative workforce to harness the talent needed for continued success."

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