In full "Arts Council of Great Britain" an organization established by Royal Charter in 1946 to promote and support (especially financially) the development and appreciation of the arts in Britain.
Origin
1940s; earliest use found in The Times.
Definition of Arts Council in US English:
Arts Council
noun
In full "Arts Council of Great Britain" an organization established by Royal Charter in 1946 to promote and support (especially financially) the development and appreciation of the arts in Britain.