The committee also called for clearer theatre ticket pricing
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An influential group of MPs has criticised the government's decision to freeze funding to the Arts Council.
The Culture, Media and Sport Select Committee said "a real terms cut in funding for the arts is a mistake".
It called on the government to find a way to reimburse the Arts Council with the extra £34m it should received in line with inflation over three years.
The committee also called on theatres to adopt a clearer ticket pricing policy to stop "this blatant rip-off".
No justification
The committee said the Department for Culture, Media and Sport had no justification for freezing funding to the largest arts body, Arts Council England, for three years.
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There's a blatant rip-off going on and it should be put to an end
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It said: "The government needs to re-evaluate its allocation of resources to the arts taking a long-term view, to ensure that real terms cuts are avoided where no compelling arguments or evidence are presented for their necessity.
"In our view no such arguments have been made. The government should reconsider and find the £34m needed to keep the Arts Council funding in line with inflation."
The Arts Council England recently announced it would have to cut funding to 121 organisations across England because of the freeze.
Face value
The select committee's report also criticised the theatre industry's methods of ticket pricing.
The Office of Fair Trading has already recommended that theatre advertising shows the face value of tickets.
This followed a consumer watchdog's findings that as much as two-thirds could sometimes be added to the face value of a ticket.
"The thing that is most irritating is the fact that what you see is not what you get," said Labour MP Mr Bryant.
"There's a blatant rip-off going on and it should be put to an end."