Media and Sport, what assessment she has made of the adequacy of the recovery of the film and TV industry since the strikes in 2023.
The current market is very challenging for the film and TV sector, including broadcasters and independent producers, but we have high ambitions for the industry and are already taking steps to incentivise production activity.We have brought in a 5% tax relief uplift for UK visual effects costs in film and high-end TV, confirmed the 40% business rates relief for film studios until 2034, and brought in the 53% independent film tax relief to support British filmmakers. This is in addition to our existing audio-visual tax reliefs; our investment in infrastructure; and investing £7 million to continue the UK Global Screen Fund for 2025/26.Film and High End TV production spend in the UK reached £5.6 billion in 2024. Whilst this was down on the peak of £6.3bn in 2022 when post-Covid demand was surging, it shows a promising level of recovery following the US Guild strikes of 2023 when spend dipped to £4.3bn. https://www.bfi.org.uk/news/official-bfi-statistics-2024As part of the government’s Industrial Strategy, eight ‘growth-driving’ sectors have been identified, including the Creative Industries. DCMS will produce a Creative Industries Sector Plan, which will be published in late spring alongside the Industrial Strategy and aligned to the Spending Review. Film and TV are sub-sectors of the Creative Industries with strong growth potential and therefore will be a focus in the forthcoming Sector Plan which will inform next steps for the sector and its sustainability for the coming years.