U.K. Government Cuts British Film Institute Funding by 8%

U.K. Government Cuts British Film Institute

LONDON — Film and other parts of the creative communities escaped harsh cuts in the U.K. as the Chancellor of the Exchequer George Osborne announced his spending plans.

The British Film Institute heard that it would receive an 8% cut to its government funding over the next four years, which represents a reduction of £1.34 million ($2.02 million) over the period. Revenues from the National Lottery, which fund production, remain unchanged.

Amanda Nevill, CEO of the BFI, said: “In such a challenging financial environment this is a better than anticipated result for U.K. film and demonstrates the government’s continuing support for a sector that makes such a valuable cultural and economic contribution.”

The Department for Culture Media and Sport’s budget is to be cut by 5%, which is a lot less than had been feared. The DCMS funds the British Film Institute, Arts Council England, national museums and galleries, as well as institutions like the British Library.

Arts Council England’s funding is expected to rise by between 1-2% over the next five years.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s

More Biz News from Variety