Following the U.K. Coalition government's declared aim to reduce public spending in all areas in order to reduce budget deficits, the Department of Culture, Media and Sport (DCMS) that controls public arts funding instructed Arts Council England (ACE) that it would see its grants drop by 29.6 percent over four years, going down from £452 million to £350 million.
SOURCE: Playbill at 06:50AM on March 30, 2011