BRIDGET WHELAN writer

for writers and readers….

It’s official – the creative industries earn £146,000 every single minute for the UK economy

coinsNew figures published yesterday – January 13th –  reveal that the Creative Industries are now worth £76.9 billlion per year to the UK economy – an all-time high. That figure is too big to get my head around so I’m glad that people good at maths have worked out that it equates to:-
£8.8 million per hour
£146,000 every single minute

That’s still just numbers and I prefer to think in concrete images. I’ve spent a few minutes googling official statistics and discovered that £76.9 billion could pay for:
all government spending for one year on cancer, heart and circulation disease, and mental health (the top three categories)
(source: Nuffield Trust )
AND
all government spending for one year on primary schools – that’s every single primary school in the country
(source: House of Commons Library statistics on education: December 2014)
AND
pay for all the cuts George Osborne says will be needed after the 2015 election – most of which would come from welfare.
(source: BBC news report January 6th)
AND
There would be change left over….

So that’s what  the creative industries – film, television, music, books – put into the economy. It is also responsible for 5.5% of all the jobs in the UK and nearly 10% of exports.
(source:Department of Culture, Media and Sport)

Given all those figures I can see how  every £1 spent on arts funding actually produces £4 for the country but the Conservatives have pledged to cut that funding if they win the May general election. Last week the Labour Press team issued the following tweet:

p.44 of Tory dossier says Labour will cancel cuts to the arts budget. We won’t.

Now that’s something I really don’t understand.
Click here for some twitter responses

photo credit: xJason.Rogersx via photopin cc

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Information

This entry was posted on January 14, 2015 by in Did you know..., News and tagged , , .
%d bloggers like this: