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.