Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps she is taking to support the film and TV industry.
The creative industries play a key role in driving economic growth. The Government is committed to supporting the creative industries as a key part of its plan to fix the foundations of the economy.
As part of this, film and TV companies benefit from extra tax relief through the Audio-Visual Expenditure Credit, which provides generous support for production costs. A total of £1.6 billion was paid out to film and TV companies in financial year 2022-23.
In addition, on 9 October the Government announced that it will finish legislating a new Independent Film Tax Credit. This policy will go further to support independent films and develop a pipeline of UK film talent.