Art market optimistic, but lacks faith in the coalition

Gallery owners attending the London Art Fair have expressed a cautious optimism for the year ahead but  a lack of faith in the coalition, with none of the galleries attending saying they thought that the current government was having a positive effect on the arts. 70% also thought the Government’s EBacc plans should include the arts. However, 86% believed that the economy would either improve or stay the same in 2013, compared to 66% when the same question was asked this time last year. 64% believed London was the capital of the global art market despite the rise of new rivals such as Berlin and Hong Kong.