The UK’s creative industries, from grassroots venues to film studios, are set to benefit from a £380 million government investment package.
Investment forms part of the government’s Creative Industries Sector Plan, which sets out the approach to developing the sector in a way that drives regional growth, is financially resilient and globally competitive. The Plan, published alongside the government’s Industrial Strategy on 23rd June, sets out a bold vision to increase business investment by 2035 to £31 billion, and cement the UK as a creative superpower globally.
The £380 million package is part of the wider plan to deliver targeted investment to create thousands of new jobs and opportunities in sub-sectors like film and TV, music, performing and visual arts, video games and advertising, while generating economic growth in six regions outside London over the next three years. In Stockport, the town is already benefiting from the successes of the creative sector, having become a popular filming destination – the council has estimated productions in the town have brought £6.7 million into the local economy in the last two years alone.
Culture Secretary Lisa Nandy said:
“Our creative industries are powerful economic drivers in this country. By placing them at the heart of our Industrial Strategy this Sector Plan, backed by £380 million of investment, will boost regional growth, stimulate private investment, and create thousands more high-quality jobs.“
Business and Trade Secretary Jonathan Reynolds said:
“The UK’s creative industries are world-leading and have a huge cultural impact globally, which is why we’re championing them at home and abroad as a key growth sector in our Modern Industrial Strategy.
“We’ve seen the power of investment, with this Government welcoming around £100 billion into the UK since taking office, and our Strategy will not only ensure that the UK is the best country to invest and do business in, but deliver economic growth that puts more money in people’s pockets.“
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