01.03.2021: UK Music Chief Executive Jamie Njoku-Goodwin has welcomed Chancellor Rishi Sunak’s £400 million boost as a “lifeline” for music and the creative industries.
He spoke after Treasury officials confirmed that the Chancellor was expected to announce another £300 million for the Culture Recovery Fund (CRF) in his Budget on Wednesday.
The increase will take the total of the CRF to £1.87 billion. The Fund is the largest ever one-off investment in UK culture – supporting vital theatres, galleries and music venues.
There will also be a further £90m from the Chancellor to support our museums and cultural bodies and nearly £20m for culture projects in regional towns and cities.
UK Music Chief Executive Jamie Njoku-Goodwin said:
“The Culture Recovery Fund has been a lifeline for the cultural sector during the pandemic. It has kept countless organisations in the music industry afloat and helped save many jobs, so it’s very welcome news the Fund is being boosted.
“Extending the CRF was a key element of our three-point plan to back British music and deliver a fantastic summer of live music.
“So, the Chancellor deserves credit for listening to the music industry about continuing support until we can get back on our feet. These badly needed funds come at a crucial time and will be the difference between survival and going to the wall for many organisations.
“The music industry has the potential to play a key role not just in our country’s social revival post-pandemic, but in our economic recovery too.
“We will continue to work with the Government towards achieving this – and a Government-backed insurance scheme is vital in making that happen.”
Chancellor Rishi Sunak said:
“Throughout the crisis we have done everything we can to support our world-renowned arts and cultural industries, and it’s only right that we continue to build on our historic package of support for the sector.
“This industry is a significant driver of economic activity, employing more than 700,000 people in jobs across the UK, and I am committed to ensuring the arts are equipped to captivate audiences in the months and years to come.”
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