(10 years, 9 months ago)
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Order. Before the hon. Gentleman replies, I remind Members that we need to keep our contributions down to something like three minutes and interventions will probably prevent us from doing that.
Thank you, Mr Caton.
In answer to my hon. Friend, the key is driving economic growth. The reality is that the creative industries in London account for one in 12 jobs in the UK and one in eight jobs in London. The point is that if we invest in London, we will create faster economic growth for the long-term benefit of the whole economy. The creative industries in this country are worth £71.4 billion, which is a huge amount of money. If we want to see investment, it must take place in that sector.
The Communities and Local Government Committee, on which I sit, is conducting an inquiry at the moment on devolution of funding, not only to London but to other cities and regions. With devolution comes responsibility, and I take the strong view that when the Arts Council or any other grant-awarding body is giving out money to invest in the creative industries—the arts, the culture or any other creative area—it should be done hand in hand with matched funding from local authorities, to ensure that we maximise the amount of money available. We talk about devolution to local authorities and beyond; with devolution comes the responsibility to invest in arts and culture, and not to say, “We’ll decimate the arts and culture, and we’ll invest in other areas.”
I think we have to be clear that this should not end up as a battle between London and the regions. The opportunity is there to invest in the creative industries in both London and the regions. We have to ensure that the facts and figures quoted by all hon. Members are correct.