cultural finance in the UK, public grants and private resourcessuch as patronage or donation. In the UK, the government’s contribution to arts and culture is 0.5% of the total economy. rose in 2019 £10.47 billion (12.145 million euros) from the national budget. Estimated arts produced three years ago 226,000 jobs, 40% in London. The figure must have dropped due to the pandemic, cuts have been made due to the economic crisis, and Effects of Brexit.
Public funds are managed by a national network of arts organizations. this Arts Council England It is responsible for nationally funding the arts in the UK. On the one hand, it distributes funds allocated by the state, as well as part of the benefits from the national lottery. in Scotland, funded by the Scottish Government and Lottery, in Wales and Northern Ireland.
Private financing has a long traditionIt is very important and has three main sources: companies, individuals and funds, foundations and donations. In the case of companies, the contribution may be monetary in the form of subsidies or patronage, among others. Individuals’ contribution may be through donations, adhesions, fellowships, or posthumous bequests in wills. Foundations are dedicated to helping hundreds of artistic projects and cultural organizations.
there are museums important employers in many casesOutside of politics, he is actively committed to fundraising. Since April 2001 all British public museums are free. This is partly explained by subsidies from the Department for Culture, Digital, Media and Sport, ranging from 50% to 27% for major museums. For the sake of transparency, these institutions periodically publish their accounts, sometimes including the salaries of managers and other employees.
some museums, such as those belonging to the group Tate they’ve been focusing on it for a long time looking for new sources of income and in consolidation of existing ones. They also launched a campaign to persuade British artists to donate some of their work. These donations offset the decline in government donations to the national arts fund, which could not compete with the appreciation of the art market.
A famous case was that of the contemporary art collector and merchant. Anthony d’Offay donated 725 works by 25 artists to Tate in 2008, including Robert Mapplethorpe, Andy Warhol, Ron Mueck or Damien Hirst. The value of the collection 145 million €but the seller sold it to the British government for 30.7 million.