Taylor Swift should receive Freedom of the City of London for filling blank space in British economy
EMBARGO: Immediate Release
The Liberal Democrats are calling for Taylor Swift to receive the Freedom of the City of London as the Eras Tour, expected to boost the British economy by nearly £1bn and London’s economy by £300m, wraps up its European leg in the capital.
Additionally, the Liberal Democrats have tabled a motion to recognise the cultural and economic impact of the Eras Tour nationally.
The party believes Taylor Swift’s anticipated impact on the British economy will provide a remedy to the delicate state the Conservative government has left it in through years of neglect and the legacy of Liz Truss’ mini budget.
Barclays Bank has estimated that as a result of fans purchasing tickets, travel, accommodation, outfits and additional expenses such as themed food and merchandise, Taylor Swift will be responsible for £997m being injected into the British economy.
The London Assembly has calculated that the economic impact on London alone will be £300m.
In total, the US leg of the Eras Tour tour last year stimulated their national economy by $5.7 billion (£4.5bn).
Taylor Swift will have performed a total of 15 shows in the UK this (not so cruel) summer, stimulating the local economy in Liverpool, Edinburgh, Cardiff and London, as well as across the entire nation.
Eight of those shows were at Wembley Stadium, with four shows in June and another four in August, making London the Eras Tour stop with the most shows.
Additionally, the Liberal Democrats believe her work securing streaming royalties for other artists signed to the same record label as her and the huge donations she has made to food banks in London during her Eras Tour stops qualifies Taylor Swift to receive the Freedom of the City.
Liberal Democrat Treasury spokesperson and MP for Richmond Park, Sarah Olney said:
“We were enchanted to welcome Taylor Swift and the Eras Tour to the UK. Her decorated 18 year career has been one of endless philanthropy and using her platform to bring reforms to the music industry, all while releasing chart topping hits and breaking record after record.
“But Taylor Swift is now on track to achieve her most impressive feat yet; patching part of the blank space the Conservative government left in the British economy after years of neglect.
“The Eras Tour has provided hours of joy to the thousands of fans attending the shows, but the real legacy of Taylor Swift’s tour will be the lifeline it provides to our economy, so it is only right that she be recognised with London’s highest honour.”
ENDS
Notes to Editors:
First reported by the Metro here.
Barclays Bank report estimating Taylor Swift’s impact on the UK economy here.
London Assembly’s report detailing Taylor Swift’s impact on London’s economy here.
Washington Post’s report on Taylor Swift’s impact on the US economy after the first leg of the Eras Tour here.
Tom Gordon, MP for Harrogate and Knaresborough, who has seen Taylor Swift’s Eras Tour live on two occasions, tabled an EDM on Tuesday to coincide with her final performance in London.
Full Early Day Motion text -
Recognising the Economic Impact of Taylor Swift's Eras Tour on the UK Economy:
That this House acknowledges the substantial economic impact of Taylor Swift's Eras Tour on the UK economy, with an estimated boost of nearly £1 billion; notes the concept of 'Swiftonomics' as a demonstration of how cultural events can drive significant economic activity across multiple sectors, including hospitality, retail, and transportation; further notes that the tour's presence in cities such as London, Liverpool, Edinburgh, and Cardiff has led to increased tourism, job creation, and local business growth; recognises the long-term benefits of heightened international visibility for these cities as premier destinations for global events; and calls on the Government to continue supporting and investing in the UK’s cultural and entertainment industries to maximize their economic contributions and cultural influence.