Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the economic benefit to creative industries in Northern Ireland of the tax measures announced in the Spring Budget.

The Government recognises the cultural and economic value of the UK’s world-leading creative sector. At Spring Budget 2024 the Government went further to support the sector through the creative sector tax reliefs, which companies in Northern Ireland benefit from.

The announcements include a new tax credit for independent UK films with budgets of less than £15 million and a 5 percentage point increase in tax relief UK visual effects costs in film and high-end TV.

The Government also announced that from 1 April 2025, orchestras, museums, galleries and theatres will benefit from tax relief set permanently at 45% (for touring productions and all orchestra productions) and 40% for non-touring productions).

These measures will apply UK-wide.