Arts: Government Assistance

Treasury written question – answered on 21 March 2023.

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Photo of Rachael Maskell Rachael Maskell Labour/Co-operative, York Central

To ask the Chancellor of the Exchequer, what fiscal steps he is taking to provide support for (a) creative industries and (b) digital creative industries.

Photo of James Cartlidge James Cartlidge The Exchequer Secretary

The government recognises the value of the UK’s world leading creative industries.

The eight creative industries tax reliefs support and incentivise the production of culturally British content. At Spring Budget 2023, the government went further to support the creative industries through the tax reliefs.

The government extended the 45% (for non-touring productions) and 50% (for touring productions) rates of the theatre, orchestra and museums and galleries reliefs for two years. The sunset clause of the museums and galleries exhibition tax relief was also extended for two years.

The audio-visual tax reliefs will be reformed to refundable expenditure credits, which will provide a greater benefit than the current reliefs. Film, high end TV productions and video games will be eligible for a credit rate of 34% and animation and children’s TV productions will receive a rate of 39%.

At Spending Review 2021 the government announced £50 million over the next three years to support the creative industries, including supporting SMEs to scale up and providing bespoke support for the UK’s independent film and video game industries.

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