Question to the Department for Business, Innovation, Science and Trade:

To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the relationship between access to international finance and the ability of UK creative businesses to scale.

The Creative Industries Tax Reliefs have been highly effective in attracting investment into the UK Creative Industries, particularly across film, high end television (HETV) and games. The British Film Commission indicates that inward investment into Film and HETV production in 2023 totalled £5.8 billion, representing 85% of UK production expenditure.

The Government recognises that access to international finance can support the ability of UK creative businesses to scale by providing growth capital, enabling investment in intellectual property, and supporting market expansion.

Research has identified access to finance as a key challenge for creative industries businesses seeking to scale. As a response the Creative Sector Plan sets a target of making the UK the "best place to invest in creative businesses”.

My Department’s Creative Industries team is working in collaboration with the Office for Investment to attract international capital, increasing the capacity for investment in UK creative business growth.