The Tate Modern, part of the Tate group. Photo: Neil Puffett

The Tate Modern is part of the Tate group, one of a number of arts and culture institutions sponsored by DCMS

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DCMS public bodies ‘may face financial sustainability issues’

Government department says it has commissioned a review into the financial position of ‘several’ of its public bodies.

Neil Puffett
2 min read

Some of the public bodies sponsored by the Department for Culture, Media and Sport (DCMS) could struggle to continue to operate due to worsening finances, the government department has warned.

DCMS’s annual report for 2023/24, published last week, reveals that the concern is one of seven “strategic risks” the department has been monitoring and managing.

“DCMS public bodies may face financial sustainability issues due to several years of economic pressures,” the report states.

The department works with 29 non-departmental public bodies, including Arts Council England, the British Museum, Tate and the Victoria and Albert Museum. It also works with four advisory non-departmental public bodies, including Theatres Trust.

DCMS has not named which public bodies are at most risk, but the report does say it has “commissioned a review into the financial position of several public bodies and will make spending proposals at the next spending review”.

The government has committed to a multi-year Spending Review in Spring 2025, which will set departmental allocations until at least 2028/29.

The risk to public bodies is one of two emergent risks highlighted in the report to be categorised as “new”.

The other is that local authorities’ financial difficulties “impact their funding for arts, culture and sporting sectors”.

To mitigate the risk, DCMS said it is undertaking regular engagement with local authorities and the Ministry of Housing, Communities & Local Government to understand the impacts on DCMS sectors.

DCMS defends Coronation spending

Meanwhile, DCMS defended its spending on King Charles’ Coronation in May last year after the annual report revealed that it had provided £50.3m of the total cost of £72m.

A DCMS spokesperson said: “The Coronation was a historic state occasion that brought together millions of people across the country, the realms and the Commonwealth.

“It was an important diplomatic event and the biggest gathering of world leaders in a generation, putting Britain on a global stage and showcasing the best of British culture and creativity to the world.

“In line with rules regulating the spending of taxpayers money, all efforts were made to keep costs to a minimum.”

The annual report notes that the Coronation achieved over 100,000 news stories and reached an estimated global audience of two billion people in 125 countries.