Friday, October 07, 2011

How about £4.5bn for media & creative industries ?

As the electronic presses whirr into action at the Bank of England and create £75bn of new money in the style of the Wiemar Republic how about shelling out the dosh directly into the economy rather than via the Shylock's in the City ?

Since media & creative are @6% of GDP why not just send the money directly (I am sure getting the account numbers and sort codes would be no problem) to relevant organisations / people who could efficiently allocate the capital. 6% of £75bn is £4.5bn and if I was "king for a day" (scary prospect) this is where I would put it....

1. £1bn for the BBC. Never thought I would say that but they do support the indies and provide a lot of jobs.
2. £1bn into high speed broadband networks divided pro-rata between the major ISP's
3. £1bn into a content fund run by independent producers who could provide capital to UK movie makers, UK interactive game producers, software programmers etc
4. £1bn to companies like Regus who could provide facilities for start-ups to include professional advice and infrastructure.
5. £0.5bn for any thing else that crops up.

How hard can it be ?

For some Friday fun here is a relevant link