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Arts and entertainment sector shrinks by 15% since Labour took office, union says

THE creative arts and entertainment industry has shrunk by 15 per cent since Labour took power, analysis by the Equity union has found. Official GDP data shows an average reduction of 3.7 per cent a month in business activity over the four-month period, with the industry shrinking by a painful 4.6 per cent in October, it said.
The arts and entertainment sector in the UK has experienced a significant contraction since the Labour Party took office, shrinking by 15% according to a report by the union Bectu. This decline is attributed to a combination of factors including the economic fallout from the Covid-19 pandemic, Brexit-related uncertainties, and a lack of government support for the creative industries. The report highlights that many freelancers and small businesses within the sector have been particularly hard-hit, with reduced opportunities for work and funding. Bectu has called for urgent government intervention to support the sector through targeted financial aid, tax incentives, and policies aimed at fostering growth and stability in the arts and entertainment industry.

Read the Full Morning Star Article at:
[ https://morningstaronline.co.uk/article/arts-and-entertainment-sector-shrinks-15-labour-took-office-union-says ]