Britains top arts official announced on Wednesday a five-year, $120-million government fund to match private gifts to cultural organizations, Bloomberg writes.

The move comes as Britains government starts a review of its policies on promoting philanthropy with a goal of encouraging the countrys wealthy to give away 10 percent of their assets.

Jeremy Hunt, Britains culture secretary, said the funds goal was not to substitute for sweeping cuts in government arts grants or to import a U.S. model wholesale into the U.K. But, he added, Surely we must ask ourselves what we can learn from America, where per-capita cultural giving is six times that of Britain.