Arts: Government Assistance

Department for Business, Innovation and Skills written question – answered on 4th February 2015.

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Photo of Iain Wright Iain Wright Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the amount of Government support received by the creative industries through fiscal relief on investment and grant programmes; and what proportion such support is of the support given to other sectors included in his Department's industrial strategy.

Photo of Ed Vaizey Ed Vaizey Minister of State for Culture and the Digital Economy (Jointly with Department for Business, Innovation and Skills), Minister of State for Culture and the Digital Economy (Jointly with Department for Culture Media and Sport)

The Government have an excellent record of supporting UK creative industries, for example through fiscal relief, spending and programmes for the arts and culture, education and skills, digital and communications infrastructure, research and innovation, access to finance and international trade and investment.

Following the success of UK film tax credits, which have generated billions in investment since 2010, we have introduced new corporation tax reliefs for high-end TV production, video games, animation and theatre. These targeted incentives are in addition to schemes such as the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Voluntary Capital Trusts (VCTs).

Information on support for UK creative industries through specific reliefs and programmes is available from the responsible departments and public bodies.

Through industrial strategy, the whole of Government is working in partnership with industry in a range of sectors to set the long-term direction needed to give businesses the confidence to invest.

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