Case Study: Government Bailout for UK Museums, Galleries, Theatres

This case study analyzes the UK government's £1.57 billion support package for museums, galleries, and theatres, addressing arguments against the bailout based on economic, social, and legal factors. Economically, concerns are raised about the debt burden and potential for closures, suggesting temporary job provisions instead. Socially, the bailout could provoke public outrage, given pandemic-related hardships and perceived discrimination. Legally, the decision might create regulatory challenges and winners/losers among art forms. The study references online articles to support its arguments, highlighting the complex stakeholder implications of the bailout decision. Desklib offers a platform to explore similar solved assignments and past papers.

To bail out or not bail out

TABLE OF CONTENTS
REFERENCES...........................................................................................................................4

Argument against a government bailout for the UK’s museums, galleries, and theatres
Economic: During this pandemic time, it will be difficult to spend huge of money
on restoring the culture back along with providing jobs to the artists. This will result into just
merely putting some amount which will help in handling this financial year but what about
the next. In addition to this, by looking at the economic condition of UK and the amount of
debt it additionally has to take in order to incorporate or implement the support package then
it will result into negatively impacting the economic growth as more debt obligation will be
added to the economy without any inflow (Coronavirus: Emergency money for culture 'won't
save every job'. 2020). It is not at all necessary to infuse this much amount in the UK’s
museums, theatres as there are chances that it might get closed again. Therefore, instead to
infusing money into the UK’s museums, galleries, and theatres, it is better to provide them
with job on a temporary basis till the time situation gets under control. This bail out decision
will affect the employee, shareholders and owner’s perspective to the government decisions.
Social: This might result into provoking people to indulge into an action as against
the unnecessary expenditure which is being incurred by the government. During this time of
pandemic, the life of people is more essential rather than maintaining the culture or heritage.
For the cause of providing medication and treatment to the people affected with novel
coronavirus, the government is taking loans and assistance form the other countries in order
to meet with the requirement (Bail Out Artists, Not Arts Managers. 2020). But now, it is
providing support packages for retaining the UK’s galleries and theatres. Instead of making
such expenditure into this, it is effective to provide job to the artists who lost their jobs. This
step by the UK government will influence one of the most influential stakeholders who are
the people, employees who are still struggling with this financial crisis and have not received
any sort of assistance from the government. This can be considered as a discrimination
against other people and might result into incurring outrage among the people.
Legal: This decision of the UK government might put the economy into a legal
trouble. As in order to provide such a massive amount of support package will require it to
deal with the various rule and regulation. It will involve identifying the ways in which the
amount will be distributed among the competing art forms or regions and also how the
application process will work and it will result into bringing out winners and losers (U.K.
Announces $2 Billion Bailout to Help Keep the Arts A float. 2020). This will affect the
stakeholders such as government and the key decision makers and the existing laws and
regulation. This will also result into affecting segments of the other people. Therefore, it is

highly dangerous to get involved into the such a thing as the outcome from it is not even
clear.

REFERENCES
Books and Journals
Online
U.K. Announces $2 Billion Bailout to Help Keep the Arts A float. 2020. [Online]. Available
Through:< https://www.nytimes.com/2020/07/06/arts/uk-rescue-package.html>.
Bail Out Artists, Not Arts Managers. 2020. [Online]. Available Through:<
https://artreview.com/bail-out-artists-not-arts-managers/>.
Coronavirus: Emergency money for culture 'won't save every job'. 2020. [Online]. Available
Through:< https://www.bbc.com/news/entertainment-arts-53302415 >.