Tax Breaks Boost Record UK Production, Says BFI | News



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Entitled Screen Business, the triennial report covering the period 2017-2019, shows that the industry’s tax breaks – for film, high-end television, video games, children’s television and animation – have increased the 20% number of jobs between 2017 and 2019 to reach 219,000 FTEs.

The report finds that an estimated £ 1.02bn tax break generated £ 5.11bn in direct production spending in 2019, a 61% increase from 2016.

Of that, £ 2.08bn in production spending came from premium television production (HETV), a 70% increase from 2017. Film production amounted to £ 2.02bn. , while video game development amounted to £ 860.4million. Production of children’s television programs amounted to £ 86.0 million and production of animated programs for £ 65.3 million.

The report states that one of the ripple benefits of the tax breaks has been to encourage a £ 131million expansion into new studios across the UK over the period 2017-2019, and that 785 , An additional £ 4million has been set aside for other planned studio investments in the UK.

The BFI said the report highlights how the strength of the screen industries before the pandemic allowed the production sector to rebound effectively this year, with £ 4.7bn in production spending just on film. and premium television from January to September 2021.

Chancellor Rishi Sunak said: “The UK is home to some of the best creative talent in the world, and our television and film industry is a jewel in our crown, creating hundreds of thousands of jobs and billions for the economy. “

Ben Roberts, Managing Director of BFI, said: “We are working with industry and government to develop the UK screen sector, and Screen Business is proof of the strength of tax breaks and how with which they have sustained an astounding level of production and employment, and created a business. across nations and regions of the UK.

The report was produced by the international consultancy firm Olsberg SPI with Nordicity and commissioned by the BFI, supported by industry partners including the British Film Commission (BFC), Pact, Pinewood Group, TIGA, Ukie, the UK Screen Alliance and Animation UK.

The report also examines the specific micro-economic benefits generated by film and HETV production for other industries, known as the “ripple effect”. He found that between 40% and 60% of spending was spent in the general economy in sectors including local resources, such as travel and transport, construction, hotels and restaurants.

For example, an independent feature film with a budget of £ 20million spent: 7.76% on commercial support / supplies; 7.33% on digital services; 6.28% on construction; 6.09% million on travel and transport; 5.95% million for hotels and restaurants; 2.22% on the local workforce; 2.13% on fashion and beauty; and 5.07% on studios / locations.

An international feature film with a budget of £ 50m spent: 11.70% under construction; 9.82% on travel and transport; 9.71% on studios / locations; 6.49% for hotels and restaurants; 4.20% on business support; 3.08% on the local workforce; 2.28% on music and the performing arts; 2.22% on fashion and beauty; and 2.07% on digital services

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