A UK-wide international success story thanks to 15 years of sustained investment

• Thanks to 15 years of sustained support, including the introduction of the Lottery in 1994, the arts are thriving. We have visionary leaders; entrepreneurial business models; a global reputation for excellence and innovation; enhanced facilities; a transformational Olympics opportunity; and a growing cultural economy built on a new spirit of creative confidence.

The arts budget is tiny; the return on investment is huge

• The arts budget is tiny; it costs 17p a week per person - less than half the price of a pint of milk. In return we have: world-class arts and artists; a sector that gives Britain an international edge as a dynamic place to live, work and do business; a sector which fuels the creative industries and generates future jobs in one of the fastest growing parts of the economy; and a sector with a proven track record of regenerating towns and cities and contributing to a cohesive and engaged society.

• The story is clear: small amounts of public money work hard and stimulate a mixed economy culture that is admired the world over and delivers a real return for the country in economic terms, and in terms of the kind of society we want to be.

Sustained support of the arts will allow them to play a vital role in Britain's economic recovery

• Arts investment plays a vital role in the journey from talent to the creative industries, which are fundamental to the future competitiveness of British business and are seen as our best route out of recession. Between 1997 and 2006 the creative economy grew faster than any other sector, accounting for 2 million jobs and £16.6 billion of exports in 2007.

• Arts and culture are central to tourism in the UK: this was worth £86 billion in 2007 - 3.7% of GDP - and directly employed 1.4 million people. Inbound tourism is a vital export earner for the UK economy, worth £16.3 billion to the UK economy in 2008.

• Liverpool 08 was the most successful European Capital of Culture ever, with 15 million cultural visits and £800 million worth of local economic benefit.

• Artistic enjoyment and creativity has never been more universal, more innovative, more easily distributed, shared and exchanged. The UK has the largest creative sector in the EU, and relative to GDP probably the largest in the world.

The arts are central to a government that places a healthy society at the heart of its agenda

• Arts leaders and organisations occupy a major place in the 'Big Society': as civic leaders they contribute to the cohesion of their local communities, civic pride and quality of life.

Any cut to the arts will have a disproportionate effect for a relatively tiny saving to the public purse

• For every £1 that the Arts Council invests, an additional £2 is generated from private and commercial sources, totalling £3 income. At a local level our investment can lever five times its worth.

• Arts Council investment acts as a stamp of approval that draws in funding from the private sector and philanthropic sources: philanthropy follows success.

• We have developed a modern and progressive model for cultural organisations, bringing together public funding and private enterprise - a truly public-private partnership. But it is a finely balanced economy: if public funding is significantly reduced, the knock-on effect will be profound and the private sector will not make up the shortfall.

• There is no firewall between the public funded arts and the private sector: the success of the commercial arts sector and the creative economy depends on both.

Remember: the arts are valued, they really matter, they are essential to our quality of life

• The financial climate is tough, but the arts remain a compelling case for public investment. Work with us to put that case as loudly and clearly as possible to government in advance of the next spending review so that we can minimise the potential damage.

• We know that arts organisations are already finding new approaches to arts funding and to partnerships, collaboration and delivery - there are great examples of organisations thinking differently within this changing context. This is even more important given the challenges of the current economic climate: we must be as resourceful as we can and work together.

• The arts broaden horizons, stimulate new thinking, provide pleasure and raise aspirations - they inspire and sustain the spirit. More people are enjoying the arts than ever before (76% in 2008/9)

• The considerable benefits the arts can bring in other areas - social, economic, and to general well being - begin with the quality of the art itself. And this country has invested in artistic excellence for the long term.

We are committed to ensuring that public funds are used in the most cost effective way to deliver the greatest public value. In addition, we see the need to think of the long term

• We want to make the most of a range of extraordinary opportunities around the Olympics, to substantially build the digital and innovative capacity of the arts, and to ensure that everyone has the opportunity to access the very best of the arts and that the arts continue to thrive. This is why the Arts Council is developing a 10-year framework for the arts that will deliver the mission of great art for everyone

• As an Arts Council we will work with the sector to ensure the entrepreneurial genius of the arts continues to thrive. We have evolved into a strong, efficient, outward looking organisation, and will continue to drive down costs while maintaining the quality and effectiveness of our advice, support and expertise.