Arts body plans to concentrate on existing portfolio with post-Olympic funding grants

The Arts Council of England (ACE) has revealed plans to stop investment in new arts buildings, as it outlined its three-year budget of £400 million of lottery funds from 2012 to 2015.

The council has said it will rein in grand projects and concentrate on its existing portfolio, despite receiving a £30 million annual boost from money previously diverted to the Olympics and an overall increase in the amount given to the arts from lottery funds.

In a statement yesterday ACE said it expected to spend £180 million on capital projects over the three-year period from 2012, investing between £500,000 and £5 million in individual projects.

The move will put a stop to major projects that in the past decade have included the Ellis Williams designed £50 million Baltic Centre for Contemporary Arts, whichreceived £33.4 million arts lottery funding.

Other notable openings include David Chipperfield’s Hepworth Gallery in Wakefield and his Turner Contemporary gallery in Margate.

Alan Davey, chief executive ACE, said: ‘Much of this new strategic funding comes from our lottery income, following the government’s decision to increase the share of lottery money to the original four good causes.

“The funding will allow the Arts Council to invest in flexible and targeted ways to help realise our priorities and ambitions for the arts, building on our core investment in the national portfolio.

‘The aim is for the Arts Council to work alongside our national portfolio, and other artistic and cultural organisations, to deliver our shared aims and ambitions for the arts.”