Some of the country's leading independent theatres are facing an uncertain future after more than 200 organisations were told their Arts Council funding will be withdrawn. The Riverside Studios in Hammersmith and the Derby and Exeter theatres were among the 206 theatre companies, galleries and arts venues who learned yesterday their government grants would dry up in 2012.
Others had their budgets significantly reduced, with the critically acclaimed Almeida Theatre Company in Islington, north London seeing their grant cut from £1 million this year to £700,000 in 2015 – a real terms drop of 39 per cent.
It came as the Arts Council announced its funding settlement of £957 million for 2012-15, which included an average cut of 15 per cent to the entire portfolio.
However, in real terms this only brings the funding for 2014/15 down to 2001/02 levels, meaning it is still more generous than the first three annual settlements following the 1997 General Election.
The pot will also be boosted by increased lottery funding, which is set to rise from £149 million a year to £223 million by 2014-15. (read more)
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