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<p>HM Government recognises the great value of the UK’s world-leading arts and cultural
sectors, and the Department for Culture, Media and Sport has a strong record of support
for organisations in this space.</p><p>Arts Council England are spending £444 million
annually on a record 985 organisations in their National Portfolio, which was enabled
by a total increase of over £43 million in Arts Council Funding across the most recent
Spending Review period.</p><p>We are also investing more than £200 million through
the Cultural Investment Fund over this Spending Review period, and the £1.57 billion
Cultural Recovery Fund supported around 5,000 organisations. The extension to the
higher rate of cultural tax reliefs secured at Spring Budget 2023 is estimated to
be worth £350 million over the five year forecast period.</p>
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