The creative industries – from film, to fashion, art, advertising, games, design and more – are a crucial part of the UK, generating £115.9bn in gross value added (GVA) for the economy, employing 2.2 million people and contributing greatly to the country’s status internationally.
However, as PEC’s interventions have previously stated, the sector faces significant challenges, not only due to the COVID-19 pandemic but also long-standing issues stemming from the small scale of many of its businesses, as well as skills shortages, and a lack of diversity.
The Budget 2021 published on March 3rd 2021, begins to address some of these critical issues for the sector. Here, PEC highlights those areas where they have published evidence that policy intervention could support growth in the creative industries, and report how this Budget seeks to address those recommendations.
You can read more information here.
PEC provides independent research and policy recommendations for the UK’s creative industries. The PEC is led by Nesta, the innovation foundation, and involves a UK-wide consortium of universities.