The impact of the Levelling Up Fund on local authority funding strategies has been significant. The availability of the Fund stimulated a review of local authority led cultural regeneration projects which have to date been considered unaffordable in the context of shrinking funds and increasing pressure on discretionary and non-discretionary funding. While the argument for funding some of these projects is strong, in many cases the longer-term economic impact and social value benefit are outweighed by the simple matter of a lack of upfront capital funds.
For many years now, we have witnessed the rapid decline of our town centres which have been grappling with a loss of identity even prior to the unprecedented impact of Covid. So, was it inevitable that the Levelling Up Fund would enable local authorities to consider ways of stimulating recovery and re-establishing a reason to exit?
Build Back Better was the prequel to the Levelling Up Fund and the idea behind it can trace its roots back to the mid-2000s, long before the phrase was popularised, in this country, by Boris Johnson. Targeting regeneration strategies at initiatives which prioritise community wellbeing, societal improvement and social value is essential to ensure that the redistribution of health, inclusivity and welfare is sustainable. Investing in ‘culture’ is proven to generate significant social value and economic growth within the local communities they serve and can be the catalyst to reinvigorate town centres.
Demonstrating the case for investing in culture and measuring the economic benefits of arts and culture involves utilising several academic models. These models, such as the Arts Council England, Shellard Model and the DCMS report, in partnership with the London School of Economics, set out economic metrics based on the acquisition of experiences and the subsequent footfall and audience participation.
The survival of the arts and cultural sector as we know it is at stake. Investment programmes are now ‘business critical’ but funding streams are shrinking. You only need to look at the latest round of ACE National Portfolio Organisation funding and the venues losing support, to understand the scale of the challenge facing the cultural sector.
So how can the Levelling Up Fund make a difference? Savvy local authorities are capitalising on the opportunity to secure capital to regenerate, rebuild or refurbish their cultural assets. Southend-on-Sea City Council is one such example, and their principal cultural asset, the Cliffs Pavilion, is one of the most important regional touring theatres. Attracting over 500,000 visitors per year, it is an economic powerhouse, significant employer and social value hub, yet hadn’t benefited from any notable investment for over 20 years. The council secured over £5 million via the Levelling Up Fund which will be put toward refurbishing this nationally significant theatre. In doing so, it not only protects it for the future, but it also ensures that the cultural wellbeing benefit, estimated at £25 million per year, is retained. Even the most cynical critic of the value of the arts and culture sector will struggle to challenge this return on investment.
In the context of diminishing council budgets set alongside the arts and culture sector being categorised as non-discretionary, carefully considered cultural regeneration projects funded via the Levelling Up Fund can have long lasting social value and economic impacts.
The commercial viability and long-term sustainability of the theatre and arts sector is under severe strain. Many of our most important cultural assets are council owned so it cannot be underestimated how important it is to continuously invest in them. On this basis, the Levelling Up Fund is likely to have a significant impact on the preservation of important cultural assets.
Key Points:
• Culture plays a key role in supporting the regeneration and recovery of local authorities.
• The dynamics of our town centres have been changing for years, so questions remain over how the Levelling Up Fund will revitalise them via investment in culture.
• Levelling Up Fund investment should be targeted at culture to support social value objectives.
This article originally appeared in The Leaders Council’s special report on ‘The Levelling Up agenda’, published on November 30, 2022. Read the full special report here.
Image by william on Wikimedia Commons
