Private investment slumps

New figures on private investment indicate a further fall in support for culture. Provisional numbers from Arts & Business show that total private investment for 2009/10 was £658m, a 3% decrease on 2008/9. There was a 12% decrease in business investment, and individual philanthropy was down by 4%. Funding from trusts and foundations was the single source of private investment that increased, up by 11% to £154.6m. The picture was brighter in Scotland, with a 48% increase in money from trusts and foundations leading to total private investment growing by 6% overall to reach £41.7m. The full report will be published later this month.