EDINBURGH'S Festivals are set to receive a £15m funding boost.
The city's August festivals, whose 70th anniversary year closes this weekend, are set to benefit from an extra £3m a year from 2018 to 2023, councillors said.
Councillors have voted to give £5m to the festivals from the city's coffers in this period, and the plan is for that extra £5m to be matched the same sum from by the Scottish Government and the festivals themselves.
The new 'Legacy Funding' initiative, described as a "one off" boost by councillors, will also include a strategic look at the future funding of the festivals, expand their reach across the city especially in disadvantaged areas, and look to add new events in winter and spring.
As part of the project, which is separate from the festival's annual revenue funding, the council create an independent short-life Investment Advisory Group.
This new body will look at a way to find a new way of funding the festivals, a "fundraising vehicle to support Edinburgh’s cultural ecosystem including its major festivals."
The council already gives the Edinburgh International Festival £2.2m in funding a year.
Councillor Donald Wilson, the council's new culture convenor, said: "This is a one-off, an opportunity to put money into the creative regeneration of the festivals.
"We are celebrating 70 years of the festivals...but what makes Edinburgh's festivals unique at this time of year is the constant regeneration and re-creation which makes people come back over and over and again and again.
"But that doesn't happen by itself, we need to invest in the festivals and this gives us a fantastic, one-off opportunity to that.
"It should not be confused with a sustainable funding basis for the festivals going forward - these two are separate things."
The new funding will be via a programme called Platforms for Creative Excellence or PLACE.
Councillor Wilson added: "For creating newness at the festival, there hasn't been enough money in the past and has been done very much on an ad-hoc basis, so this is about an opportunity that we haven't been able to do, and it is something that we must grasp.
"This is a massive investment in our festivals which have served our cities well for 70 years."
Council Leader Adam McVey, said: “If we are to sustain our position as the world’s festival city and protect their legacy, we need to make a joint commitment towards supporting their future success.
"In this crucial year, we need to recognise how our festivals support tourism, create jobs, and develop the creative and hospitality industries."
Culture Secretary Fiona Hyslop said: "The Scottish Government has long made clear our commitment to supporting the festivals – awarding £19 million since 2008 through the Expo Fund.
"I welcome the council’s in principle agreement to invest an additional £5 million over the next five years and we are finalising our discussions on the Scottish Government’s support for the festivals."
In the debate in the council chamber, the Councillor Alex Staniforth, for the Green Party, said that the power to raise a transient visitor tax should be secured from the Holyrood Parliament, and its proceeds used to help fund culture in the city.
The transient visitor tax, or 'bed tax', has long been mooted as a way to pay for the city's festivals and culture and Councillor Wilson re-iterated his support for the idea.
The council also passed a motion in favour of the Fair Fringe charter.
Wilson said: "This Council welcomes the work of the Fair Fringe campaign to promote fair working conditions for fringe workers.
"This Council calls for a report ahead of plans for next year’s summer Festivals and Fringe on how the 10 aims of the Fair Hospitality Charter can best be promoted and adhered to by employers hiring Council owned Festival and Fringe venues for the purposes for running Fringe events and hosting food and beverage venues."
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