On 6 March 2024 the Chancellor delivered the much anticipated Spring Budget on behalf of the UK Government. Against a backdrop of economic stagnation, cost-of-living crisis, an upcoming UK Government General Election, and as a priority growth area recognised by the UK Government, for Creative UK the key question is whether the scale and complexity of fiscal intervention set out in the Budget marries with the level of action needed to stimulate growth and resilience.
Earmarked as a key growth sector in the Chancellor’s speech and on the receiving end of £1 billion of tax relief, there are aspects of the Budget to celebrate which includes key areas where – along with our membership – Creative UK has consistently advocated for through engagement, in our official submission to the Treasury, and in public communications. This briefing takes a closer look at what is – and what isn’t – in the Budget, how this affects the cultural and creative industries, and how Creative UK will work with members to advocate beyond recent developments.