Companies reduce arts donations in U.K.

Investment by businesses in the arts has dropped to its lowest level for seven years in the U.K., despite a government drive to encourage philanthropy.

Companies gave $212.6 million in the financial year 2010/11, according to Arts and Business, which compiled the figures.

That is $15.9 million down on the previous year and the lowest since 2003/4.

But overall investment in the arts, including money from private donors and trusts and foundations, rose by $45.2 million to $1.1 billion, Arts and Business said.