Examining the Spending Review: Three Strategies to Bolster Financial Assistance for the Creative Sectors
The UK government is set to promote recovery and resilience in the creative industries following the impact of the COVID-19 pandemic. A policy brief, published on 10th September 2020 by Creative PEC, offers recommendations that focus on tailored support for businesses, skills development, and diversity. These areas have been identified as key challenges for the sector.
The briefing is not a manifesto for the creative industries, but rather a set of three specific recommendations based on recent research. One of the key strategies proposed is targeted financial support for smaller businesses in the creative sector, such as grants and tax credits, which have been shown to increase firms' innovation propensity by about 11%.
Enhanced skills training and graduate hiring programs are also recommended. These initiatives, statistically demonstrated to boost firms' innovation capabilities, are crucial to address skills shortages and improve workforce capabilities within the creative industries. Training programs have been shown to increase innovation likelihood by 6.4%, while graduate hiring programs have a more significant impact, increasing it by 10.5%.
Promoting diversity and inclusive talent pipelines is another crucial aspect of the proposed strategies. The government is encouraged to back workforce strategies aligned with sector needs, encouraging employers to invest in fair recruitment, apprenticeships, and upskilling. This approach is supported by wider industrial strategy commitments for significant skills investment and technical education reforms.
The government is also urged to utilise forums and platforms such as the Cultural and Creative Industries Pavilion at major political events to bring together key stakeholders for policy discussions and showcase the sector's importance. Aligning recovery efforts with the government's Industrial Strategy and sector plans is also essential, with a focus on supporting digital, AI, and creative technology sub-sectors.
As the UK government prepares for the Autumn 2020 Comprehensive Spending Review, these steps can help not only support recovery but also build a more resilient, skilled, and diverse creative sector capable of contributing significantly to post-pandemic economic growth.
Other policy briefs, such as "Creative industries innovation in seaside resorts and country towns", "Audiences and Workforce in Arts, Culture, and Heritage", "Television production, international trade, and pressures to consolidate", "Transitioning to Sustainable Production across the UK Theatre Sector", and "Authors' Earnings in the UK", provide further insights and recommendations for specific areas within the creative industries.
Sources:
- Creative PEC
- Policy brief: Three ways to support growth in the creative industries
- Cultural and Creative Industries Pavilion at Labour Party Conference 2025
- UK government's Comprehensive Spending Review
- UK government's Industrial Strategy and sector plans
- The UK government is aiming to strengthen the economy by focusing on recovery and resilience in the creative industries post-COVID-19.
- A policy brief, published on 10th September 2020 by Creative PEC, offers tailored support for businesses, skills development, and diversity in the creative industries.
- The briefing includes three specific recommendations based on recent research, one of which is targeting financial support for smaller businesses in the creative sector.
- Enhanced skills training and graduate hiring programs are proposed to boost firms' innovation capabilities and address skills shortages in the creative industries.
- Promoting diversity and inclusive talent pipelines is another crucial recommendation, encouraging employers to invest in fair recruitment, apprenticeships, and upskilling.
- The government is encouraged to utilize platforms like the Cultural and Creative Industries Pavilion at major political events to foster policy discussions and showcase the sector's importance.
- Aligning recovery efforts with the government's Industrial Strategy and sector plans is essential, with a focus on digital, AI, and creative technology sub-sectors.
- Other policy briefs offer insights and recommendations for specific areas within the creative industries, such as "Creative industries innovation in seaside resorts and country towns."
- The government's Autumn 2020 Comprehensive Spending Review can help support recovery and build a more resilient, skilled, and diverse creative sector.
- The UK government's Industrial Strategy and sector plans commitment to significant skills investment and technical education reforms supports the proposed workforce strategies.
- These strategies aim to contribute significantly to post-pandemic economic growth, making the creative sector a valuable asset for wealth-management, business, and personal-finance.
- Education and self-development, career development, job-search, and skills-training are critical components in the bid to strengthen the creative industries.
- By implementing these strategies, the UK government hopes to foster a vibrant, internationalized, and innovative creative sector that creates jobs and generates wealth.
