Film: Finance
The question
To ask the Secretary of State for Culture, Media and Sport, what steps she is taking to help ensure the financial sustainability of film studios in the UK.
Answered by Chris Bryant
We are committed to supporting the growth and sustainability of the film sector. We provide globally competitive tax measures to incentivise production. We are investing in infrastructure through continued funding via the British Film Commission (BFC) which has doubled the amount of studio space since 2020, and we are providing a 40% business rates relief for eligible film studios until 2034. We are supporting our independent domestic sector through our 53% independent film tax relief and committing a further £7m this year to the UK Global Screen Fund to promote and distribute UK independent screen content. We are strengthening our public service broadcasters through the Media Act. And we are working with industry to support the skills pipeline to ensure the sustainability of the sector for years to come.
As part of our Industrial Strategy, we will soon publish a Creative Industries Sector Plan, which will set out actions to support the growth of the film and TV sector.
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