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BAFTAs showcase a vibrant creative sector worth £71 billion to the UK economy
As the BAFTA awards got under way in London the CBI highlighted the £4.5 billion contribution by the UK film industry to the British economy and called for action to boost the sector.
The Creative Nation strategy sets out how we can build on current success and cement our position as the world’s leading creative hub.
The creative industries are central to the UK economy generating £71 billion a year, and employing over 1.5 million people. In order to ensure they continue to thrive we are calling on the Government and industry to support the following measures:
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Unequivocally commit to developing licensing models across the EU to protect businesses’ intellectual property
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Ensure the European Commission accepts a tax credit for video games
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Boost the development of in-work skills and ensure the apprenticeships system is suitable for creative industries
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The new Competition and Markets Authority must be responsive to changing market definitions and geographic boundaries in digital technology
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Ensure creative firms can access the finance they need to grow
Katja Hall, CBI Chief Policy Director said:
“Behind the red carpet and the glamorous stars, lies a vibrant industry that contributes £4.5 billion to the British economy. The recent extension to film tax relief announced in the autumn statement is a welcome boost for the industry.
“But to really capitalise on our global advantage we need to take action on copyright protection to make the UK the best place to invest in, and develop intellectual property.”
Andrew M Smith, Director of Strategy and Communications at Pinewood Studios said:
“Some of the most iconic British films produced over the last 80 years have been made at Pinewood Studios.
“With the digital revolution taking place across the creative industries we cannot afford to stand still. The private sector needs to build on the right policy conditions that have been created to support the long-term success of creative firms in order to further cement the UK’s position as Europe’s leading creative hub.”
