EC Safeguards UK Film Tax Relief

The government and the British Film Institute (BFI) have announced news that the European Commission has published a new Cinema Communication safeguarding the UK's film tax relief and Lottery funding.
The UK film sector supports approximately 117,000 jobs and contributes over £4.6bn to UK GDP and more than £1.3bn to the Exchequer, according to the BFI.
"The continuation of the successful UK film tax relief framework is a huge reassurance to the UK film industry and will support the growth of the sector," it said.
The new Communication allows Member States to support the evolving need for public intervention in areas such as distribution, exhibition and screen heritage, ensuring the economic and cultural vitality of the industry is sustained.
Chancellor George Osborne said: "The UK film industry makes a valuable cultural contribution and is an important part of our diverse and dynamic economy. Through the film tax relief we have been able to support this highly skilled, innovative and creative sector and the European Commission's Cinema Communication will mean we can continue to provide that support."
Ed Vaizey, Minister for Culture, Communications and Creative Industries added: "It is fantastic that we now have a new Cinema Communication in place, confirming the on going viability of our extremely successful film tax regime that attracts moviemakers from all over the world."
Amanda Nevill, CEO, BFI said: "The BFI is delighted that the Commission has listened to our representations, made in partnership with other European countries, on behalf of the industry. This successful outcome is a great example of what can be achieved when the main agencies for film in the UK and across Europe come together and pool expertise."
Image - courtesy of BFI National Archive
www.bfi.org.uk
(IT/JP)