Government plans £50 billion growth for UK creative industries

The UK government has set out new plans to target £50 billion of growth in the nation’s creative industries by 2030, and support an additional 1 million jobs.

Speaking at the London Tech Week conference on Monday, Prime Minister Rishi Sunak announced the plan to support the creative industries, already worth £108 billion annually and growing 1.5 times faster than the economy as a whole.

Developed with industry via the Creative Industries Council, the Creative Industries Sector Vision published yesterday (13th June) sets out £77 million in new government investment for the sector. The vision is framed around the key principles of facilitating innovation and investment, and building a skilled workforce in order to maximise growth for the sector.

Government plans include £50 million to grow clusters of creative businesses in locations all over the country, and more funding to help start-ups scale-up and to turn creative entrepreneurs into CEOs. Advanced screen and performance technology research labs will also be based in Yorkshire, Dundee, Belfast and Buckinghamshire to ensure growth in all parts of the UK, supported with an additional £63 million investment from industry.

Alongside investment, the Sector Vision commits the government to a new creative careers promise to open up more opportunities to pursue careers in the creative industries.

The Prime Minister, Rishi Sunak, said:

“The creative industries are a true British success story, from global music stars like Adele and Ed Sheeran to world-class cultural institutions like the National Theatre.

“These industries have a special place in our national life and make a unique contribution to how we feel about ourselves as a country.

“We want to build on this incredible success to drive growth in our economy – one of my key priorities – and to ensure that UK creative industries continue to lead the world long into the future.

“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 imagination and ingenuity of British designers, producers, content creators, writers and artists are spearheading growth right across our economy.

“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.

“Working with the industry this vision is helping the UK creative sectors go from strength to strength – providing jobs and opportunities, creating world leading content and supporting economic growth across the country.”