Vince cable has pledged £16m to boost the UK’s creative industries on the back of a recommendation from Facebook’s boss in Europe, Nicola Mendelsohn, to double exports by 2020.
The Business Secretary announced his pledge at the launch of Create UK, a new Government strategy devised alongside UK business leaders in the film, tech, fashion, advertising and publishing industries.
Ms Mendelson, speaking at the launch of Facebook’s London office, said the UK’s creative sector was strong, but shouldn’t become complacent.
“We truly believe our sector is as vital to the UK’s economy as the more traditional powerhouse industries. Government should now make the creative industries one of its official industrial strategy sectors to build on this UK success story.”
The sector currently contributes £71bn a year to the UK economy, provides 1.71m jobs, and in 2011 exported £15.5bn. Create UK aims to boost this to £31bn by 2020.
It aims to achieve this by winning the support of Government and other industries through education, funding, infrastructure, intellectual property protection and exports.
Vince Cable said:
“We want this sector to continue to thrive so it’s important that government and industry keep working together to foster the right environment for creative industries to succeed and inspire young people to follow in the footsteps of the many creative heavyweights that Britain has produced.”
Image by Nadia Minic