GBP 80m arts philanthropy fund unveiled
9th December 2010
Culture secretary Jeremy Hunt has launched a multimillion pound fund to boost philanthropy in the arts.
The Department for Culture, Media and Sport and Arts Council England are to contribute a total of GBP 80 million to the fund, which aims to create a new generation of philanthropists and raise at least an equivalent sum from private donors.
Mr Hunt commented: 'This country has a great tradition of philanthropy in the arts and I pay tribute to all those who have donated to our artists and cultural institutions, whether to the tune of ten pounds or ten million pounds.'
He added that government funding of the arts will continue in the future, but said private and corporate financing will be needed to support the cultural scene further over the years ahead.
The fund is part of a package unveiled by the culture secretary to create long-term financial sustainability in the arts. Other measures include more public recognition for philanthropists and plans to develop fundraising skills in the arts sector.
Last month, the Prince of Wales Medal for Arts Philanthropy was awarded to Richard Broyd, Anthony and Anne d'Offay, Helen Thorpe, Mr and Mrs David Seligman and the late Lord Wolfson.