Why not devolve all of it to the "regions" (of which London would be one) with budgets proportional to the populations of the regions in question?
SIR HUMPHREY APPLEBY: "That would be a truly courageous initiative, Prime-Minister!"
PM: "Really? As bad as that?"
I can tell you've been out of London for a longish while, Richard, because you didn't have the enormous fun of dealing with the "London Residuary Body", and umpteen local councils, as there is no longer a body that represents London any more. So each orchestra, opera-theatre, ensemble etc would have to negotiate separately with Brockley, Brent, Camden, Islington, Hackney, Tower Hamlets, Ealing, Southall...
Imagine the programmes you'd get soon: "The Oboes and Bassoons are kindly funded by Hounslow City Council, not including the Cor Anglais which failed the Equal Opportunity requirements, and is funded by the UK Independence Party. The French Horns are sponsored by the Institut Francais. The
fagotti are sponsored by Islington... "
In principle it's a great idea, although I am slightly worried by the "stakeholder" elements in it as having a Blairish tinge
What I fear is that the Arts are viewed like Chicken-Licken's pie... everyone wants a piece, provided it doesn't involve them in any outlay. As soon as the concert isn't IN Tower Hamlets, then Tower Hamlets won't pay a cent... and indeed, why should they? But it will spell the end for London's orchestras.
In case you think I am merely having a laugh here, I can give you a practical example which will leave you banging your head on the keyboard. The London Borough of Ealing, where I was living prior to my flit eastwards, has no Arts Centre of its own. It has the Town Hall where some amateur G&S is performed to truly execrable standards (although the performers evidently enjoy every moment), and it has the Questor's Theatre (a marvellous institution about which the Borough couldn't give a monkey's). So.... Ealing set out to raise the funds to build AN ARTS CENTRE FOR EALING, and what a rallying cry that was (come election-time, I mean). Ten years later, all that exists is a string of broken promises and much bitter finger-pointing. There never was even a site for it (although the old Ealing Studios film lot sits empty and abandoned - soon to become luxury apartments, 'natch).
But hang on... take the #65 bus from Ealing Broadway just five stops, and
55 yards outside Ealing's boundary is... the Brentford Waterman's Arts Centre (proprietors: L.B.of Brentford), a superbly-equipped venue with a 350-seat theatre (complete with an orchestra pit), a cinema, another small performance space, plus a potentially nice caff (if only it were ever, ehem, open...) with balconies outside looking onto the wooded banks of the River Thames. Idyllic. Perfect.
But it was 55 yards behind enemy lines for the Burghers of Ealing. I used to cycle there in 12 mins, they had super repertory film programming. Then they started surcharging non-Brentford residents attending events.
The term "Ealing Comedy" might have been invented for this absurd spat (which still continues a decade later, with the poor ol' Watermans now in a shocking state, it appeared to have closed-down when I last passed by on the bus).
And if that's what the local councils can do for the Arts on a local basis... imagine the high jinx they could get up to if national funding were devolved to them? I predict you'd see fewer concerts, and more Mayoral Bentleys.