I can see nothing wrong with millions of government money ( sorry, our money) promoting Latin American arts and music - providing Latin American countries do the same for British Folk Music and arts - South America flooded with Morris teams and melodian players. Marvellous!
Alternatively, scrap the arts council and spend the money more wisely.
Then the music and "arts" people want to see and enjoy will flourish and the elitist groups can pay the full price to endulge themselves.