(2 weeks ago)
Lords Chamber
Baroness Smith of Malvern (Lab)
I am sorry that I am not completely clear about the point that my noble friend is making with respect to SPG capital, which I think is what she was referring to. I will write to her about that.
My Lords, it is not all gloom and doom—I declare an interest at the University of Oxford—as there are other ways to encourage capital and money to come into creative education in our universities. I draw the Minister’s attention to the recent donation by Stephen Schwarzman to the University of Oxford, which provided £200 million for a new centre for the humanities and, within that, all sorts of performing arts spaces using the latest technology. If we can encourage business and commerce to invest here and make more money here, I know of lots of other organisations, like Bank of America and Steve Schwarzman, that would put more money into the creative industries and higher education in this country. Does the Minister support philanthropy coming into this area to help?
Baroness Smith of Malvern (Lab)
Yes, of course. I do. Philanthropy has always been an important way in which facilities in our universities have been supported. To help that happen, as other noble Lords have commented, we have already made the creative industries part of our industrial strategy. As a Government, we are supporting an extra £100 million of investment for the next wave of creative R&D clusters. We are supporting the arts through additional money to Arts England, and we are making sure that there is a pipeline of young people coming into the sector as well. Given the enthusiasm that there always is in this House for the creative industries and the arts, which I know is reflected out in the country, I hope that where people have the money to contribute to higher education and other areas of education, they will consider doing so.