Making a crisis out of a drama: should we continue public financial support for British theatre?

Following a brief review of some economic theory relevant to the analysis of not-for-profit theatre arts enterprises, the arguments relating to the merits of continuing subsidies to the British theatre arts arc considered with respect to both production and consumption benefit perspectives. These are framed around the populist assertions typically levelled against and by advocates of continued subsidy. It is concluded that there is no compelling economic case for maintaining such subsidies.