Stay in touch with the latest news from AIM and get information on sector grants, jobs and events with our free fortnightly E-News.
Additional £300m boost to Culture Recovery Fund
The Chancellor is expected to announce a £300m boost to the Culture Recovery Fund as part of almost £410m additional support for Britain’s arts, culture and heritage industries in the Budget on Wednesday 3 March.
The extra £300m will further expand the £1.57bn Culture Recovery Fund and includes:
- £1.15bn of grants and loans (£880m grants and £270m loans).
- £100m for National Museums and cultural bodies.
- £120m Capital Kickstart Fund to restart and accelerate capital projects.
- £188m Barnett consequential for the devolved administrations – £97m for the Scottish Government, £59m for the Welsh Government and £33m for the NI Executive.
- £15m administrative support.
The Culture Recovery Fund was launched in July and, to date, has awarded over £800m in grants to over 3,000 organisations in England. A second round of funding will be awarded by the end of March 2021, with a third funding round supported by this extra £300m of investment.
Responding to the news, AIM Chair Andrew Lovett said
“In face of the cataclysmic financial shock caused to the UK by COVID-19 and the competing demands this creates it is tremendously heartening to see that the Government is continuing to back culture. I welcome this latest investment through the Culture Recovery Fund because investment it is – providing a future for such a valued part of our lives. The returns will be great and long-lasting.”
Details on how to apply for the additional funding will be published by DCMS in due course. AIM will update related advice pages as soon as available.