Spring Budget 2021: Summary
The creative industries will be integral to the UK’s economic and social regeneration. They were growing at four times the rate of the economy as a whole and contributed £116bn in GVA in 2019 – that’s greater than aerospace, automotive, life sciences and oil and gas sectors combined. They were creating new jobs at three times the UK average, with employment growth as much as 24% in Wales and 81% in the North East between 2011 and 2019. They have been central to the UK’s soft power, in driving tourism and exports, instrumental in bringing communities together and fundamental to the nation’s mental health.
With the right support, the creative industries can unlock the growth, job-creation and innovation that the UK now needs to thrive. To realise this opportunity, government and industry must:
- 1. Invest in entrepreneurialism and a future-proof workforce
- 2. Unlock the UK’s inward investment and export potential
- 3. Drive innovation, R&D and growth in all parts of the UK
Download our full Spring Budget 2021 summary below.