Mayor issues stark warning and urges continued spending for arts and culture

The Mayor of London, Boris Johnson, has warned against cuts in spending on arts and culture, as he and Kevin Spacey, Artistic Director at the Old Vic, gave keynote speeches about the impact of the economic downturn.

The Mayor hosted the event - entitled Cultural Capital: Maintaining Investment in Culture through the Good Times and the Bad - at the Victoria and Albert Museum yesterday evening, bringing together figures from the arts, business and the public sector.

Mayor Johnson argued that the capital is a cultural powerhouse, a huge success story, with an unrivalled range of activities and attendances continuing to rise - not just at its magnificent free museums and galleries, but also at its theatres, cinemas and concert halls. He and others emphasised the key role of sponsorship funding in defending and nurturing the arts in London. However, fears are increasing about the impact the recession is having on funding. According to Arts & Business, rising visitor numbers are being accompanied by falls in business investment, individual giving and funding from trusts and foundations. Business investment has declined by 7% in the last year, with 42% saying their investment in the arts has decreased in the last three months. Stimulate Some are concerned that such funding might not pick up again until 2011 – or even later - which would have serious implications for the sector in the long term – and the economy as a whole. Tourism is worth £16bn to London's economy, the majority of visitors saying arts and culture are why they visit the capital. Furthermore, it is widely recognised that the subsidised arts sector helps stimulate the commercial creative industries, which bring 500,000 jobs to London and adds an estimated £20 billion in value. "We have to rise to the challenge brought about by the downturn. Arts and culture are not a luxury, they are part of this city's DNA, its USP", said the Mayor. "A mix of corporate sponsorship, public investment and philanthropic giving will help our cultural and creative sectors ride out the current downturn – and help stimulate London's economy for the future".     Kevin Spacey, Artistic Director of The Old Vic, highlighted the dangers of cutting back on sponsorship: "The economists may be seeing the first green shoots of recovery, but it is clear that the impact of the downturn will be felt for years to come - certainly in terms of sponsorship budgets and corporate philanthropy. "If we don’t act now, we risk allowing our rich cultural life to be diminished, available only to the minority who can afford high West End prices or rarefied arts events. It's time for us all to step up and ensure that our vibrant and diverse cultural life is protected". "Art matters more than ever during an economic downturn", said Jude Kelly, Artistic Director, Southbank Centre and Cultural Olympiad Board member. "As people rebalance their lives, there is a new sense of purpose for culture and the arts in a healthy society. The arts have flourished in these challenging times, and the fact that our audiences and ticket sales are at an all time high would certainly support this. The Barbican is dedicated to investing in talent and the arts, communities and young people. "As we look towards providing a showcase for London’s diverse culture in 2012 it is vital that financial support comes from the widest range of sources - from the government to local authorities, companies and private sponsors. Their investment is crucial: the artistic experience is the one thing that will never lose its value".