Creative Industries: Research and Development

Baroness Neville-Rolfe Excerpts

Wednesday 8th January 2020 Lords Chamber

[Lord Duncan of Springbank]

The noble Lord makes an important point. I was curious about that this morning as well. I was fearful that a lot of these funds would end up in the larger businesses and industries but, in actual fact, SMEs are disproportionately affected in this area for the very reason that the arts, humanities and wider creative industries are usually small ventures. So there is a significant proportion of benefit in that regard. If the noble Lord will allow it, I will drop him a note on the exact figures and put it in the Library for the edification of all others.

[Baroness Neville-Rolfe (Con)]

Can my noble friend also consider as part of his follow-up work the allocation of the R&D spend by government? We are talking about tax, which obviously affects the creative sector and companies. The Government are actually spending more money on R&D, which I very much welcome, but allocation to sectors other than the ones that BEIS considers key is very important. Agriculture, which we discussed earlier, has lost a lot of its R&D in recent years. The creative sector is a new sector and requires attention as well.

[Lord Duncan of Springbank]

The simple answer to that question is yes, I will do that.