London mayor Boris Johnson has called for public spending on arts and culture to be maintained to offset a decline in business investment and to help the industry through the recession.

In a speech to delegates from the arts, business and public sectors at the Victoria and Albert Museum, Johnson said that the wide range of museums, galleries, theatres and concert halls had established the capital as a "cultural powerhouse". According to Arts and Business, increased visitor numbers to London's arts and culture attractions have coincided with a 7 per cent decrease in business investment, as well as a decline in individual giving and funding from trusts and foundations.

Concerns have been raised that funding for the arts and culture sector may not recover until 2011, which could threaten the long-term viability of London's commercial creative industries and have a damaging effect on the capital's tourism market. However, a spokesperson for the mayor said there were no plans to introduce mandatory admission fees at London's museums and galleries. He added that the mayor "believes there are lessons to be learned from the US about increasing corporate and philanthropic giving" following his recent visit to the Met in New York.

Johnson said that he will continue to support cultural projects across the city, such as Transport for London's Art on the Underground scheme, support for plans to extend the Tate Modern, and £5m funding for the British Film Institute's proposed film centre. "We have to rise to the challenge brought about by the downturn," said Johnson. "Arts and culture are not a luxury, they are part of this city's DNA, its USP. It is why people want to live and work here and s seven out of ten tourists say it is a reason for their visit. At a time of recession it is more important than ever to invest in the arts.

Kevin Spacey, the artistic director at the Old Vic theatre, also gave a keynote speech at the 'Cultural Capital: Maintaining Investment in Culture through the Good Times and the Bad' event. Spacey said: "The economists may be seeing the first green shoots of recovery, but it is clear that the impact of the downturn will be felt for years to come - certainly in terms of sponsorship budgets and corporate philanthropy.

"If we don't act now, we risk allowing our rich cultural life to be diminished, available only to the minority who can afford high West End prices or rarefied arts events. Its time for us all to step up and ensure that our vibrant and diverse cultural life is protected." Image: James O Jenkins