Industrial Strategy: £150m Sector Deal to cement Britain’s position as creative powerhouse
Britain is looking to cement its position as a global creative powerhouse with the latest Sector Deal announced under the Government’s Industrial Strategy.
A new agreement between the Government and the Creative Industries Council (CIC) will see over £150m invested to help cultural and creative companies throughout the UK thrive.
The deal will be announced today (March 28) by Digital and Culture Secretary Matt Hancock, Business Secretary Greg Clark and CIC co-chair Nicola Mendelsohn.
In addition to the £150m boost, which will be jointly invested between the Government and industry, cities and towns will be able to bid for a slice of a £20m Cultural Development Fund to invest in creative and cultural programmes.
An aim of this latest Industrial Strategy Sector Deal is to double Britain’s share of the global immersive content market by 2025, which is forecast to be worth more than £30bn by then.
To achieve this, the Government will invest more than £33m in immersive technologies such as virtual reality games, interactive art shows and augmented reality experiences for tourism.
Similarly, the Sector Deal will look to enhance skills with up to £2m for an industry-led skills package. It will include a creative careers programme that will reach 2,000 schools or more in two years.
Other commitments to be outlined in the Deal today include establishing a new creative industries Trade and Investment Board to replace the existing Sector Advisory Group, and a fresh crackdown on copyright infringement.
Matt Hancock, Secretary of State for Digital, Culture, Media and Sport, said: “Britain’s creative industries are an economic and cultural powerhouse and this ambitious deal will make sure they continue to thrive as we build a Britain fit for the future.
“Our creative industries will help develop the talent of the future, ensure people are rightly rewarded for their creative content and give our firms the support they need to compete on the global stage.”
He added: “Millions of people around the world enjoy our world-class artistic and cultural output and we want Britain to stay a frontrunner in these vibrant sectors.”
Business Secretary Greg Clark commented: “The Industrial Strategy is all about building on our existing strengths and seizing the opportunities of the future. Our creative industries have been, for centuries, world renowned and at the forefront of innovation. That’s why I was determined to place the creative industries at the heart of our Industrial Strategy.
“To boost this innovation, we put the creative industries at the heart of our ambitious Industrial Strategy and this joint deal is a landmark moment for our relationship with this world-leading sector. By working together with universities and industry, and by investing £150m, we will unlock growth across the UK.”
He continued: “The Deal is evidence of our continued commitment to our world leading creative sector, establishing a partnership that can build on the UK’s position and reputation as one the most creative places on earth.”
The Creative Sector Deal follows similar agreements announced last year for the construction and life sciences sectors.
Looking to promote your product or service? Bdaily Marketing can help you reach a regional business audience. Request our latest Media Pack →