The Arts Council England has issued this statement regarding Chancellor George Osbourne's spending review, announced today:
"This afternoon, following the Chancellor’s statement, the DCMS
confirmed in a press briefing that the budget for the Arts Council has been cut by 29.6%. This means the money we currently have to spend,£450m, will go down to £350m in real terms in 2014. Our cut in the first year (11/12) is around 14%. The full numbers are as follows:
* 2011/12 - £387.7m
* 2012/13 - £359.2m
* 2013/14 - £351.6m
* 2014/15 - £349.4m
These cuts will inevitably have a significant impact on the cultural life of the country. The Secretary of State has indicated in his settlement letter that he would like to keep the overall effect on the budget to regularly funded organisations to 15% over four years."