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<p>The Government has set out a clear plan to grow the creative industries by a further
£50 billion and add another 1 million jobs by 2030. That includes supporting the growth
of television and film production.</p><p>Since 2010, the Government has introduced
a range of tax reliefs across the creative industries, including expanded relief for
film and high-end television. Our screen sector tax relief alone is estimated to be
worth more than £13 billion in GVA to the UK economy. The Government’s support for
the independent television production sector continues to be underpinned by the hugely
successful terms of trade regime. The Media Bill, currently before Parliament, therefore
protects and updates the regime, as well as public service broadcasters’ independent
production quotas, to reflect changes in technology and the way viewers are watching
content.</p><p>We have also taken a number of additional steps to ensure that British
film and television companies are able to invest in production, expand their businesses
and offer opportunities for cast and crew across the UK. This is why in the Spring
Budget we have announced a number of generous tax reliefs for the sector, including
a 40% relief on business rates for eligible studio spaces in England until 2034 and
a 5% increase in tax relief for visual effects costs, which will not be subject to
the 80% cap in the High End TV Audio-Visual Expenditure Credit. This will incentivise
high-end television productions to remain in the UK for both filming and their visual
effects. The Government will continue our wider support for the sector by investing
in studio infrastructure, supporting innovation, and promoting independent content
through the UK Global Screen Fund.</p>
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