Slashing support for the arts could set Toronto’s vibrant economy back 25 years, experts are warning Mayor Rob Ford and other members of city council.

The warning comes in a letter being delivered Tuesday, the Star has learned. It is signed by members of the advisory committee who produced the Creative Capital Gains report, unanimously endorsed by council in May.

Internationally respected consultants Richard Florida and Gail Lord are among those signing the letter, along with National Ballet artistic director Karen Kain and two big players from the financial world — Robert Foster, CEO of Capital Canada Ltd. and former cabinet minister Jim Prentice, currently a senior vice-president of CIBC.

The letter comes in response to proposals from the city manager that the city could trim its budget by eliminating grants, including $6 million of grants to major arts organizations.

“The city has a crucial part to play by providing seed money so that other levels of government and the private sector can play their part,” the letter states. “We are deeply concerned that the budget alternatives being proposed will put the city back by 25 years at a time when the small level of investment recommended in the report and adopted by Council will moves us to the top of the global competitive stage.”

The Creative Capital Gains Report concluded that for Toronto to be economically successful compared to other competitive cities, it must be a global creative capital. And to be successful, it needs a thriving arts, culture and museum sector.