Spending Review 2025 - our view

Theatres Trust looks at what the Chancellor's announcement means for the theatre sector.

While investment in the arts was not specifically mentioned in the Chancellor’s speech, Theatres Trust welcomes the government’s commitment to investing in Britain’s future and opportunities for all. Ultimately, we are optimistic that there were initiatives announced today that could benefit the sector.

The housing sector was one of the biggest winners in the Spending Review, but we know that houses only become homes if they are part of a thriving and connected community. Theatres Trust will continue to make the case to the government that investment in theatres ensures these new houses will be built with the long-term needs of placemaking and local communities fully considered.

We specifically look forward to seeing the full details of the Growth Mission Fund, which aims to accelerate projects that are vital for local growth. Theatres Trust was pleased to hear the Chancellor mention renewal in Kirkcaldy and we will be making the case for the King’s Theatre in Kirkcaldy to be at the heart of these regeneration plans.

Similarly, the £1.2bn investment in training and upskilling young people could be the answer to the sector’s skills shortage and we’d urge theatre-sector colleagues to engage proactively with this as details emerge. The Department of Culture, Media and Sport’s (DCMS) forthcoming National Youth Strategy is another opportunity for the sector to engage with young people. Theatres Trust will be advocating on behalf of the sector with the relevant government department on these programmes.

We realise that there will no doubt be concerns about  the real term fall in the £8.2billion settlement for the DCMS in today’s Spending Review. The importance of theatres to communities across the UK – in economic, social and wellbeing terms – is well understood across the theatre sector, but this fiscal event serves as a reminder that the sector must  come together and ensure that this impact is fully understood within the government.

Theatres Trust will work with theatres over the period of this Spending Review to strengthen the case for investment across theatres of all size, scale, operating model, and geographic location.