Paying Creatives a Living Wage Could Unlock £42 Million Boost for UK Economy, Study Finds

15 hours ago7 min read

A new economic study proposes that implementing a living wage for the UK's creative professionals could generate a £42 million surge for the national economy. The findings highlight the sector's role as a significant economic engine, arguing that financial stability for artists, musicians, and writers would yield substantial returns.This report emerges amid an industry-wide crisis characterised by widespread undervaluation, precarious freelance work, and stagnant pay, which is driving talent away from the arts. The proposal draws inspiration from Ireland's pioneering basic income scheme for artists, presenting a viable model for the UK to adopt.Ensuring a living wage would empower creatives to focus on their work—enabling songwriters to produce music without financial anxiety, painters to afford materials, and authors to write without distraction. This foundational support would enrich the entire cultural landscape, fostering greater innovation, diversity, and output.The projected £42 million benefit is considered a conservative estimate, accounting for increased tax contributions, reduced welfare dependency, and the local economic multiplier effect from artists spending their earnings. Currently, many of the individuals who shape the nation's cultural identity are constrained by financial instability.For the UK to maintain its status as a global cultural leader, it must transition from symbolic appreciation to concrete investment. Establishing a living wage for creatives is a strategic economic move, designed to nurture talent and ensure that future generations of artists can thrive without being forced to abandon their craft.

#living wage

#creatives

#UK economy

#music industry

#Ireland

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