Producers have called on the government to explore poilcy reforms such as R&D budget reliefs, and intervene in regional production hubs outside of London
By Jenny Priestley
Published: October 29, 2024
Producers have called on the government to explore poilcy reforms such as R&D budget reliefs, and intervene in regional production hubs outside of London
target=_blank title=Share on LinkedIn class=share-linkedin> Producers have called on the government to explore poilcy reforms such as R&D budget reliefs, and intervene in regional production hubs outside of London
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Ahead of this week's Budget, a survey of UK production companies has revealed the industry's outlook for 2025, with 54 per cent of producers stating they believe the industry will see growth in 2025.
The survey, carried out by specialist film and TV PR consultancy Percy & Warren, revealed that many of the respondents intend to invest in their own companies in the coming year.
However, respondents said the government should explore policy reforms, including tax credits for unscripted content and R&D budget tax reliefs.
The survey also discovered a need for government intervention in regional production hubs outside of London.
It also found that production companies are uncertain and lack confidence in whether the budget will reflect a government commitment to supporting the UK's film and television industry.
When asked about their confidence in the budget's impact on the industry, responses leaned heavily towards uncertainty, with only a minority expressing optimism that the allocated budget would adequately address the industry's needs, with 69 per cent of respondents stating they were not sure, 23 per cent not confident, and 8 per cent confident.
Holly Miller, director of Percy & Warren said The UK film and TV industry is facing a crucial moment. While there's cautious optimism and a commitment to growth, there's also a clear need for targeted support from policymakers. Freelancers, independent producers, and regional hubs are the lifeblood of this industry, and they're asking for meaningful, timely support measures like tax credits and other financial solutions. The resilience of our industry is unmistakable, but sustained growth will require partnership and foresight from the government. We're eagerly awaiting the Budget news this week as there's so much on the line for a lot of us.
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Producers have called on the government to explore poilcy reforms such as R&D budget reliefs, and intervene in regional production hubs outside of London
