The Wrecking Ball has posted a translation (by John Van Burek) of Wajdi Mouawad's open letter to the Prime Minister on the funding cuts. Besides running the French theatre side of the National Arts Centre, he is also an award-winning playwright. (His play Scorched is currently running at the Tarragon.) I think this is the most eloquent analysis of the issue so far.
Special thanks to Simon at The Next Stage for pointing it out.