HLF's Contribution to the UK Economy

Descriptions

HLF invests in the full breadth of the UK's heritage, and through our funding we aim to make a lasting difference for heritage and people. This is reflected in the outcomes for heritage, people and communities that underpin our grant-making. HLF intends to measure the impact of our next Strategic Funding Framework (SFF) by setting Key Performance Indicators (KPIs) that underpin our objectives. One of these objectives is proposed to be: We will grow the contribution that heritage makes to the UK economy: Heritage creates economic benefit. We will measure how much benefit is created in terms of jobs, GVA, and tourism etc. and what proportion of that can be attributed to HLF investment. In preparation for our next Strategic Funding Framework we wish to commission an economic evaluation to help set a baseline for this objective. We want an assessment of the direct, indirect and induced contribution Heritage made to the UK economy in 2018, with estimates of how much could be attributed to HLF funding. This study will involve a comprehensive review of a number of reports and a range of macroeconomic data. There are three key tasks: -To assess and set a baseline of the contribution Heritage made to the UK economy in 2018, measured in terms of: Gross Value Added, Employment (both direct and indirect), Purchases of goods and services, Economic regeneration, Natural Capital Accounting, Tourism (Visitor numbers and spend), skills and volunteering. -To provide an estimate of how much of this baseline directly, indirectly and induced can be attributed to HLF funding. -To provide an Excel dataset summarising the two sets of baselines from the study, including breaking down the baselines by the four UK nations and HLF's nine English regions. The first audience for the study is HLF, where it will inform our policy and decision making. However, the results will be made publicly available and may be of interest to other policy makers, funders and practitioners in the heritage sector. A FULL DESCRIPTION IS WITHIN THE ATTACHED ITT DOCUMENT