The Government has committed more than £8 million of support for Edinburgh’s Festivals in the Spring Budget.

The funding is expected to go toward the creation of a permanent HQ for the Edinburgh Fringe Festival, help to create jobs and support the event’s “global status”. Edinburgh’s Fringe Festival is said to be the world’s largest cultural arts festival. It takes place in Scotland’s capital every August.

The Government said the funding was designed to help boost Scotland’s festival economy, which contributes more than £300m a year to the UK.

Edinburgh International Festival director Nicola Benedetti said, “We are delighted that the UK Government has committed funds to supporting UK artists onto the world stage at Edinburgh International Festival. This will ensure the greatest talent from the UK can continue to be presented alongside some of the world’s leading artists in dance, music, theatre and opera, in Edinburgh this August. The investment in the International Festival and the Edinburgh Festival Fringe will help boost the city’s reputation as a destination for culture and in turn contribute to the economy of the Festival City.”

Chancellor Jeremy Hunt said, “Millions of people flock to Edinburgh from all over the globe for its festivals, creating opportunities for incredible comedians, musicians, artists and more, as well as thousands of jobs each year – all contributing immensely to the UK’s shared economy.”