The population of London continues to increase, meaning there are more artists now than ever before who need funding to support their work, and more community members who want to experience and enjoy arts & culture events and performances happening in their city.
Our business cases #P-8 and #P-38 request reasonable increases in funding from the City to support the growing population and ensure that London is a place where arts and culture thrive and the wellbeing and inclusion of all Londoners is paramount.
In total, over the past 23 years, CAIP has received $16,100,000. If the annual amount had been adjusted for both the population increase and inflation, CAIP would have received a total of $23,864,478 - a difference of $7,764,478.
Given that, the request for the London Arts Council's business cases P-8 and P-38 would have meant an increase in funding from $700,000 in 2023 to $1,120,000 in 2024 and 2025 and to $1,495,000 in 2026 and 2027, which is and would have totaled $20,630,000 at the end of 2027 - still over $3 million less than the total CAIP would have received in 2023 if adjusted for the population increase and inflation.
Read the full analysis provided by David J. Pasquino, CPA, CMA here: