Government pledges £16m funding injection for Britain’s creative industries

The creative industries could stand to gain from a £16m injection of Government funding after the launch of a new growth strategy called Create UK. Business Secretary Vince Cable (pictured) announced the news yesterday as Create UK revealed aims to double the size of exports in the creative sectors from £15.5bn in 2012 to £31bn by 2020. Plans include support for education, funding, infrastructure, intellectual property protection and exports.

Speaking at the event, Nicole Mendelsohn – Facebook’s vice president of EMEA and co-chair of the Creative Industries Council – said: “We are trading in an increasingly competitive marketplace and cannot take our position for granted. We truly believe our sector is as vital to the UK’s economy as the more traditional powerhouse industries. Government should now make the creative industries one of its official industrial strategy sectors to build on this UK success story.”

Cable responded: “We want this sector to continue to thrive so it’s important that government and industry keep working together to foster the right environment for creative industries to succeed and inspire young people to follow in the footsteps of the many creative heavyweights that Britain has produced.”

Source: Music Week