Arts and Culture: Finance
The question
To ask the Secretary of State for Business and Trade, whether financial support is available for firms looking to invest in the creative industries within the UK.
Answered by Sarah Jones
The Creative Industries Tax Reliefs and Expenditure Credits have been highly effective in attracting investment into the UK creative industries, especially for feature film, high end television (HETV), video games and animation. The British Film Institute reported that inward investment into Film and HETV production in 2023 totalled £3.1 billion, representing 74 per cent of UK production expenditure.
The Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) are available for those looking to invest in start-up and scale-up creative industries businesses offering tax reliefs to individual investors.
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