ISM submits response to the Spending Review
This week, the ISM submitted a response to this year’s Comprehensive Spending Review (CSR) which will take place on 27th October. We made a range of recommendations to the Treasury for funding and support for the music sector.
The spending review will set departmental budgets for 2022-23 to 2024-25 and the devolved administrations’ grants for the same period.
Among our recommendations we want to see the Government safeguard the return of live performance and protect the talent pipeline by providing more funding for the delivery of music education across the UK.
In our submission, we asked the Treasury to consider the following funding recommendations:
- Deliver the promised Arts Premium Funding to all schools, in full
- Maintain or increase the £75m ring-fenced funding for Music Education Hubs and ensure the financial settlements for Hubs are on a three-year basis.
- Under the revised National Plan for Music Education, ensure adequate additional funding so that all teachers are supported to access regular and relevant, high-quality and subject specific continuing professional development.
- Provide appropriate funding for replacing /repairing musical instruments to support the delivery of the next NPME.
- Provide funding for leisure time music groups which bring health and wellbeing benefits, via music, to communities.
- Provide an emergency funding package to support creative professionals facing additional costs when touring in Europe
- Ensure that all musicians who experience cancellations to their work are protected by the Treasury-backed re-insurance scheme.
- Provide a further round of funding to support the cultural and creative sector to recover and rebuild from the impacts of the COVID-19 pandemic.
- Provide financial support for musicians and creatives as the industry returns to pre-pandemic level
The UK music industry contributed £5.8 billion to the UK economy and employed an “all time high” of 197,168 people in 2021. The industry was continuing to grow year, on year, before the impact of the pandemic in 2020.
With the right support and investment, not only will thousands of jobs be protected, but the sector will be well placed to support the UK’s economic recovery in the aftermath of the COVID-19 pandemic. The ISM will review the impact of the spending review, and ensure all members are informed of the outcome.