The Impact of the Culture Recovery Fund on the arts and culture sector
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Date: | 06 October 2020 |
The Arts and Culture sector has faced a significant loss of Gross Value Added (GVA) since the outset of lockdown as a result of an overall decline of economic activity and a shortage of footfall into organisations.
- The arts, entertainment and recreation sector, as indicated by the Office for National Statistics (ONS) data releases, has been one of the hardest hit in the economy.
- The Department for Digital, Culture, Media and Sport has unveiled a £1.57 billion Culture Recovery Fund (CRF) intended for viable organisations to aid their sustainability during this economic crisis.
- Arts and Culture England (ACE) controls £825 million of this fund and is delivering the aid through three channels: Recovery grants, repayable finance and a Cultural Kickstarter fund.
The analysis in this report focuses on the £825m overseen by Arts Council England and its impact on the Arts and Culture sector, as it works to recover from the effects of the Covid 19 pandemic.