The Chancellor presented her speech in the House of Commons today
By Matthew Corrigan
Published: March 26, 2025 Updated: March 27, 2025
The Chancellor presented her speech in the House of Commons today
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The Chancellor of the Exchequer has outlined the government's economic plans in her Spring Statement to the House of Commons.
Against a backdrop of disappointing growth figures and an uncertain global outlook, Chancellor Rachel Reeves delivered her speech this lunchtime. Last October, in the Budget Statement, the Chancellor outlined a series of measures aiming to bolster the UK creative industries, including backing for the Crown Works Studio site in Sunderland and a tax relief package providing £15 billion in support over the term.
Following the recent collapse of Technicolor and suspension of operations at Jellyfish Pictures, the VFX industry, along with the entire creative sector, has been facing considerable pressures including stubborn inflation and uncertainty over trade tariffs and had been hoping for positive news. There were, however, no industry specific announcement in the statement.
In her speech, the Chancellor said trading patterns were becoming unstable against a backdrop of increased global uncertainty, but added there were opportunities in a changing world.
In response to the statement, Philippa Childs, head of the UK's media and entertainment union Bectu, said: There was very little for the creative industries or for freelancers in this Spring Statement with the focus on other areas of the economy.
Many in the creative industries continue to face low pay, poor conditions and precarious employment, so are really feeling the pinch. For freelancers who work in film and TV the current state of the industry is particularly precarious currently, added Childs.
With the creative industries a growth priority for the government I would hope to see some positive measures in future statements that will recognise the huge contribution of workers across the creative industries, that will address the current commissioning challenges and support freelancers. In particular we would like to see a Freelance Commissioner appointed to work across government to champion workers and ensure support where necessary.
Commenting on the announcement, Simon Devereux, founder and director of ACCESS:VFX, said: It's surprising and disappointing that the Spring Statement made no direct reference to the UK's creative industries, especially given their significant contribution to the economy and global influence. In a time when skills, innovation, and future-proof careers are high on the agenda, the absence of targeted support or recognition for our sector feels like a missed opportunity.
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The Chancellor presented her speech in the House of Commons today
