The British Library, the national library of the UK, has welcomed the settlement it received in the Comprehensive Spending Review. It has described the outcome as a 'fair settlement and positive achievement for the Secretary of State in a very difficult economic climate'.
The British Library's Grant in Aid funding will be reduced by 15 percent over four years, and its annual capital budget will be cut by 50 percent, which will reportedly be very difficult to achieve. These cuts are on top of the 3 percent cuts announced in May for this financial year. The Library also welcomed the Government commitment to fund the newspaper capital project to safeguard the future of the national newspaper collection. However, this is a particularly complex issue and detailed discussions will continue with DCMS over the next few months on how to realise this commitment.
According to Chief Executive Dame Lynne Brindley, although this is a fair settlement in difficult times, it clearly presents huge challenges coming on top of significant savings made over many years. The Library's Executive Team will now work through in detail how it can best continue to deliver essential services, protect world class collections and continue to innovate for the digital age.
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