The Art News­paper has undertaken a May/June 2009 survey

“a growing number of exhibitions are being cancelled because of the recession. We have identified over 20 important shows that have been axed (or, in a few cases, postponed) later this year or in 2010. Our list almost certainly represents the tip of the iceberg. Many venues have not yet published their 2010 programme, and some unannounced shows that had been provisionally scheduled are being quietly dropped.”

And talking of cuts, in the UK The Times reports that…

“Whitehall is drawing up plans for deep cuts in the higher education budget that in the worst case would slash a fifth from university finances, funding officials have disclosed … According to the University and College Union, 5,000 higher education jobs have either been cut or are at imminent risk, a third of them in London. “

And I’d assume it’s likely that niche departments in the arts, media and humanities will be disproportionately hit.