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Creative Economy

Creative industries praised for economic contribution

March 1, 2021
Published on:
November 1, 2019
January 5, 2021

Parliamentary event praises record of creative industries

Nicky Morgan
(Above: Culture Secretary Nicky Morgan addresses 2019 Creative Industries Autumn Reception)

Ministers and industry leaders praised the UK creative industries’ record of boosting economic growth, jobs and exports at a recent Parliamentary reception.

At the cross-party gathering of MPs, peers and industry representatives, speakers vowed to support the sector's future success by building on the progress made since the Government and industry agreed a Creative Industries Sector Deal.

The event, hosted by the Creative Industries Council, featured speeches by Tim Davie, Co-Chair of the Creative Industries Council & CEO of BBC Studios, Nicky Morgan MP, Secretary of State for Digital, Culture, Media & Sport, Graham Stuart MP, Minister for Investment, and Dinah Caine, Chair of Goldsmiths University. More pictures available here.

Speakers highlighted positive developments since the Sector Deal was announced in 2018 including:

  • A £90m expansion for a Cultural Development Fund to encourage creative and culture growth outside London
  • Programmes to widen access to finance for creative businesses, including Creative Scale-up, Creative Kickstart and a £24m partnership* between Creative England and Triodos Bank UK.  The Creative Growth Finance Debt Fund, in partnership with Triodos Bank UK, will provide vital scale up finance to the UK’s most promising creative businesses. It will target IP-rich SMEs that have reached a point of scale that requires supporting finance.
  • Publication of an International Strategy by the Creative Industries Trade and Investment Board
  • A Diversity Charter to ensure the creative industries attract a diverse and inclusive workforce
  • A Creative Careers Programme to engage employers, educators and pupils to provide guidance and inspiration for the next generation of talent
  • Investment via UKRI’s Creative Clusters and Audience of the Future programmes into R&D and ground-breaking immersive technology
  • Launch of the 10-point Creative Industries Manifesto  to drive inclusive growth and innovation in every nation and region throughout the UK

Welcoming the co-operation across the creative industries that has underpinned initiatives, Tim Davie, Co-Chair of the Creative Industries Council and CEO of BBC Studios, said:

“Our industries have a critical role to play in the future economic and cultural success of the UK – both at home and internationally. And creative skills will be increasingly important to other sectors across the economy.
The Creative Industries Sector Deal has given us a good platform, but we need to build on it if the creative industries are to fulfil the potential over the coming years, and to continue being world leaders in an increasingly competitive global market.”

Culture Secretary Nicky Morgan MP said the success of the creative industries had made the Department for Digital, Culture, Media & Sport into a “major economic department” in Whitehall.

Morgan said:

We are very committed to continuing to support you. It has been another tremendously successful year for our creative industries. The fact that you have so many MPs and ministers here is testament to the support you have in Westminster and Whitehall.
I know that the sector is only going to get stronger. I am prepared for the sector’s asks and you are a great source of soft power and waving the flag for this country.

Exports from the UK’s creative industries have grown faster than exports from other UK industries, with creative services exports increasing by 21 per cent to £32.7bn in 2017.

Creativity is also a driver of worldwide 'soft power' for the UK, with the country publishing more books than any other market, as well as punching above its size in terms of film and music sales worldwide.

Graham Stuart, Minister for Investment at the Department for International Trade, said:

The UK creative industries are a real economic powerhouse. If you look at the 123 per cent increase in creative services exports since 2010, it is quite remarkable. We are looking to build on that increase with another 50 per cent increase by 2023.”

The importance of creative education in ensuring the UK’s workforce is equipped with the skills to take advantage of future opportunities was highlighted by Dinah Caine CBE, Chair of Council, Goldsmiths University.

Caine urged the audience to read the Durham Commission report into creative education, which warned that too many young people in the UK were missing out on opportunities to develop creative and creative thinking.

Caine said:

We know the importance of Creative Education to both our industries and to the economy as a whole. Listen to us, work with us, and together let’s help achieve what we all want to see: opportunity, growth and success for our people and our nation’s future.”

Read Dinah Caine's speech.

Following the Creative Careers Programme launch in September, November 2019 sees the first Discover! Creative Careers’ Week.

The initiative will involve 500 employers opening their doors to school and college students to help them understand and bust myths about creative jobs.

The reception also featured a live performance by up and coming singer-songwriter, Emilia Tarrant, who was introduced by Michael Dugher, CEO of UK Music.

The event was held in the Members' Dining Room of the House of Commons between 4pm and 6pm on October 22nd.

Since the event, Nicky Morgan has said she would not stand as an MP in the General Election on December 12.

Tommy Shephard MP
(Above: SNP MP Tommy Sheppard)

*In September 2019, in partnership with Triodos Bank UK, Creative England launched a £24 million debt fund to provide vital scale-up finance for UK creative businesses with growth potential.

This action by industry delivers against the ambitions of the Creative Industries Sector Deal, by putting in place an important rung in the ‘ladder of finance’ that creative businesses need to succeed. It is an important step towards addressing the recognised market failures in access to finance for creative businesses, especially outside London.

More information here and also on Triodos Bank website here

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