Commenting on the publication of the Comprehensive Spending Review, SOLT & UK Theatre Co-CEOs Claire Walker and Hannah Essex said:
“We recognise the difficult economic choices facing Government, but are deeply concerned by the real-terms cuts to capital and resource spending for the Department for Culture, Media, and Sport in today’s Spending Review.
“While the Review claims to deliver a major boost to the creative industries – identified as one of the UK’s key growth sectors – the figures tell a different story. Investment in culture drives regional growth, innovation, and jobs. Savings must come from administrative efficiencies, not by stripping back core investment in the sector.
“We welcome plans to channel Dormant Assets into supporting cultural access for young people. But this must also be accompanied by investment in the organisations and national infrastructure that make such access possible.
“Our State of British Theatre report shows that, while theatre is more popular than ever, the cost of staging work continues to rise. One in four theatre organisations ran a deficit last year, and nearly 40% of venues warn they may face closure without urgent capital investment.
“Theatre is a cornerstone of the UK’s economy and cultural identity. With long-term, sustainable public investment, it can continue to create jobs, attract private capital, and deliver inclusive growth across the UK.”
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