Guidance

Culture and Heritage Capital portal

This page brings together research, guidance and estimates to help government and private organisations consider the value of culture and heritage capital.

What we do

The Culture and Heritage Capital Programme(CHC) programme, led by LordDCMS, Mendoza

Ais cultureworking andto heritagebroaden capitaleconomic approachanalysis toacross policythe creative, culture and decisionheritage makingsectors. considersMeasuring the valueeconomic contribution of culturethese andsectors heritageis standard practice. We want to society.

Thego Culturefurther, and Heritageassess Capitaltheir Programmeimpact wason officiallywelfare, launchedsustainable ingrowth Januaryand 2021long-term withliving thestandards publicationtoo. ofBy ‘Valuinghighlighting culturethe andwider heritagebenefits capital:these asectors frameworkbring towardsto informingindividuals decisionand making’.society, Thewe frameworkcan setssupport outbetter DCMS’sdecision-making.

Our ambitionaim foris to create a transformationalformal approach to valuing culture and culturalheritage changecapital, to assessingsit valuealongside forother moneyapproaches throughfor robustnatural, appraisalhuman, social and evaluation.

DCMSfinancial willcapital. publishWe research,provide data,sectors, guidancepractitioners and academics with the tools to helpundertake organisationsCHC analysis and make a stronger case for investmentinvestment. inThis culture and heritage assets.includes:

These

  • a aimsbank areof consistentvalues withdemonstrating the HMmarket Treasuryand Greennon-market Bookvalue principles.

    Youof shouldCHC checkassets

  • guidance thatnotes you’refor usingappraisal theand latestevaluation
  • a versionsset of theseNational resources.Culture DCMS and partnerHeritage organisationsCapital updateaccounts

Having thema regularlyCHC withapproach new evidence.can:

DCMS
  • enable reports

Thisresources documentfrom setsour outteam) 

  • reduce DCMS’ssearch approachcosts tofor valuinganalysts theand benefitsdecision providedmakers byneeding culturethis andtype heritageof assets.analysis
  • provide Includeda withinplatform theto documentupdate istools aand frameworkguidance thatas willknowledge underpindevelops
  • identify thenew workevidence ofand theareas Culturefor anddevelopment
  • Our Heritageaims Capitalare programme,consistent demonstratingwith howHM cultureTreasury’s andGreen heritageBook assetsprinciples.

    For oncurrent thevalues resourcesfigures DCMSfor anduse partnerin organisationssocial willcost-benefit provideanalysis over(SCBA), see the comingDCMS years.CHC Evidence Bank.

    CHC Framework

    TheLaunched reportin outlines2021, the processCHC usedFramework tosets collectout and review the evidence,need anfor overviewa oftransformational thechange methodsto usedassessing invalue thefor literaturemoney, toincorporating valueeconomic, culturesocial and heritagecultural assetsvalue andinto anappraisals assessmentand ofevaluation, the(following prioritybest areaspractice forguidance futureset research.out Asby newHM evidenceTreasury’s hasGreen becomeBook).

    You availablecan DCMSuse havethis continuedframework to addhelp toarticulate the evidenceimpact base.of Forculture eachand study,heritage theinterventions. reportIt hasis a supplementarydeveloping Evidenceresource Bankthat whichwill includesevolve thethrough estimatedongoing monetaryconsultation value,with athe RAGsector.

    Embedding ratinga ofCulture its quality, and aHeritage linkCapital toApproach

    Read the reportlatest amongstversion otherof usefulthe information.CHC framework

    UsingThis Economicversion Valuationof Techniquesthe andframework Heritageis Sciencean update to Measure the Welfare2021 ImpactFramework, ofwhich Conservation,provided Repaira starting point and Maintenanceoutlined ofthe Cultureambitions andof Heritagethe Assetsprogramme.

    UsingIt ashould combinedbe approachread ofalongside valuationthe methodologiesCHC andproto-typology heritagereport sciencewhich toprovided estimate the cultural,theoretical economicfoundations and social impact for interventionsthe thatframework.

    Culture haltand theHeritage lossCapital or(CHC) deteriorationProto-Typology ofReport culture (PDF, and2.84 heritageMB, assets.129 pages)

    Collaboration

    Stakeholders

    ChoiceDCMS Modellingis andpleased Methodology Development: Marginal Willingness to Paybe forcollaborating Museumwith Improvements

    Makingmany use of choiceour modellingarm’s-length techniquesbodies to(ALBs) estimateon theCHC marginalto changeestablish inan valueagreed wheneconomic improvingapproach museums,for withvaluing theour Nationalcultural Railwayheritage Museumassets (NRM)and as the subjectbenefits ofthey analysis.provide Theto methodspeople derivedand inbusinesses. 

    Some thisof reportthese willALBs behave usedtheir toown developwebsites furtherdedicated guidance to helpCulture organisationsand moreHeritage effectivelyCapital showwith thespecific valueguidance:

    Many beother appliedALBs toare othercollaborating typeswith ofus cultureon andCHC heritage.including:

    A

    Arts researchand studyHumanities measuringResearch theCouncil economic(AHRC)

    In valueOctober of2022, DCMS and the digitalAHRC offeropened ofbids galleriesfor andfunding museumsin usingorder contingentto valuationdevelop (CV)a techniques.robust Thisand studyholistic helpsapproach closefor evidencecapturing gapsand inarticulating the valuationvalue of digitalculture culture,and anheritage. areaSix projects have been funded as part of futurethis research for DCMS.programme.

    AHRC/DCMS

    For Culturea &summary Heritageof Capitalthese Researchprojects Fundsee and Scoping Study

    SixThe projects havetaken beenforward fundedas followingpart of the AHRC / DCMS Research Programme have been informed by the Scoping Culture and Heritage Capital Researchreport, Call,commissioned withjointly thein aimNovember of2021 developingby aAHRC formaland DCMS.

    Governance

    CHC andAdvisory multidisciplinaryBoard

    The approachCHC toProgramme valuingis thegoverned benefitsby ofan cultureadvisory andboard, heritageconnecting assetsprincipal todecision society.

    Scopingacross Cultureculture and Heritageheritage Capitalorganisations reportand wasacademia. commissionedThe jointlyBoard inprovides Novemberstrategic 2021and bytechnical thedirection Artsto andthe Humanitiesprogramme, Researchdiscusses Councilthe (AHRC)aims and Departmentobjectives for Digital,the Culture,group Media and Sportprovides (DCMS).advice Theto studyhelp recommendationsimprove havethe informedsector’s AHRC/DCMSability researchto call.

    Valuingdemonstrate Cultureits and Heritage Capital Conference

    value.

    The ValuingBoard Cultureis andchaired Heritageby CapitalLord ConferenceNeil wasMendoza, heldChairman onof 11Historic MarchEngland.

    Full 2022.members Attendeesinclude: