The UK government announced really positive news for the creative industries last month at the Budget.
United Kingdom
Media, Telecoms, IT, Entertainment
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The UK government announced really positive news for the
creative industries last month at the Budget.
Having recognised that the creative industries play a major role
in the UK economy (they are worth £125 billion!), the
government has confirmed the extension of funding and
highly-competitive tax reliefs, including a new relief for
animation TV production. The incentive includes investment in the
Creative Careers Programme, which promotes awareness of creative
career routes amongst schoolchildren.
I was particularly thrilled to learn about the £25 million
investment in the CrownWorks Studio in Sunderland. This is expected
to become one of the largest film studios in Europe and is set to
welcome around eight thousand(!) new jobs in the region, where
Indiana Jones, Harry Potter and Transformers were filmed. These new
measures will certainly help the UK to attract and retain work
within the creative industries. Just imagine what other
blockbusters will be created in the UK?
As a member of our Entertainment and Creative Industries Group,
it is encouraging to see the creative industries being recognised
as a driving force in UK economy. I also cannot help but wonder
whether we will see an increase in UK trade mark applications
covering media and entertainment related goods/services by players
within these industries – I certainly hope so!
At the Budget on October 20th, the Chancellor confirmed that the
Department for Culture, Media and Sport’s spending programmes
to grow the creative industries will continue, with additional
funding to improve access to creative careers for young people
across the country.
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