The prime minister spoke exclusively to The Independent ahead of a new package of tax relief to help boost “British Hollywood” and see more films made in the UK with “many, many” more job opportunities.
He told Independent TV: “This is a really important initiative, tax relief for filmmaking. Here in the United Kingdom, we are really good in the creative sector. In this country we punch well above our weight and what this does is encourage more people to make their films here. A really important part of what we’re trying to achieve in terms of boosting the economy, celebrating the creatives... soft power across the world in terms of what we do in creative arts, whether it’s film in this case – that’s our initiative in relation to the tax relief.”
The new Independent Film Tax Credit (IFTC), confirmed as the London Film Festival gets underway today, means that productions with a budget up to £15m will now be eligible for 53 per cent tax relief. Films with a budget of up to £23.5m are also eligible for the tax credit and the relief will be tapered.
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