Plan to raise more long-term funding for the arts

 
Images of the arts: PA and Getty Images All aspects of the arts have been affected by cuts in funding

Former Conservative minister Michael Portillo is to chair a scheme to help arts and heritage organisations build long-term funding.

A new £55m Endowment Fund will award public grants to match funds raised from private donations.

The fund is being set up with money from the Lottery and the Arts Council, as part of a wider government scheme to encourage philanthropy.

Culture Secretary Jeremy Hunt wants to boost private donations to the arts.

In a speech later, he will invite organisations to bid for grants of up to £5m to support their own long-term endowment schemes, matching funds from private donors.

Mr Portillo will chair an independent advisory panel which will review the bids.

The Heritage Lottery Fund is putting £15m into the Endowment Fund, which will have £55m to distribute over four years.

Mr Hunt will tell leaders of arts and heritage organisations this is a truly long-term venture, which may take 20 or even 50 years to produce full benefits.

BBC media correspondent Torin Douglas said Mr Hunt would like it to be seen as a gift for future generations.

 

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

Comments

This entry is now closed for comments

Jump to comments pagination
 
  • rate this
    0

    Comment number 4.

    It is at times like now (ie bleak and uninspiring) that the arts are of considerable importance and Michael Portillo is probably the right man for this important task.
    Since he gave up the confines of 'Thatcherite politics' he has shot up in my estimation.

  • rate this
    0

    Comment number 3.

    Why is money from the lottery used to fund the arts, when people, the old, the ill are going without?

  • rate this
    0

    Comment number 2.

    Oh, and, when you get heavy sponsorship, the money donated usually comes with many provisos to appease the sponsors - nothing too cutting edge, nothing too outrageous, nothing boundary pushing. Cultural richness comes from embracing and celebrating diversity and invention which may feel very uncomfortable for Everyman at the time, yet which eventually becomes the norm.

  • rate this
    0

    Comment number 1.

    A whole generation of artists, possibly two before the full benefits are seen? They are going to say it is better than nothing - just as well for the present generation and their children, because nothing is what they will be getting! At a time when businesses are struggling, only the truly philanthropic who probably already fund the arts are going to stump up cash.

 
 

More Entertainment & Arts stories

RSS

Features

  • Shinji Mikamo as a boy, and Hiroshima bomb cloudLove and the bomb

    The Japanese man who lost everything but found peace


  • Northern League supporters at the party's annual meeting in 2011Padania?

    Eight places in Europe that also want independence


  • scottie dogShow-stealers

    How Scottie dogs became a symbol of Scotland


  • Hamas rally in the West Bank village of Yatta, 2006Hamas hopes

    Why the Palestinian group won't back down yet


  • The outermost coffin of Tutankhamun 'Tut-mania'

    How discovery of Tutankhamun's tomb changed popular culture


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.