The Chancellor has delivered the new governments first budget pledging a tax relief package for the creative industries
By Matthew Corrigan
Published: October 30, 2024 Updated: October 31, 2024
The Chancellor has delivered the new government's first budget pledging a tax relief package for the creative industries
target=_blank title=Share on LinkedIn class=share-linkedin> The Chancellor has delivered the new government's first budget pledging a tax relief package for the creative industries
https://www.tvbeurope.com/business/budget-2024-uk-chancellor-outlines-plans-for-creative-industries title=Share via Email class=share-email>
The Chancellor of the Exchequer has unveiled a series of measures aiming to drive growth in the UK
Addressing a packed House of Commons, Rachel Reeves MP, the first female Chancellor in the country's history, outlined a range of policies to tackle economic inactivity and expand opportunities for small and medium-sized enterprises, with the creative industries among those specifically targeted.
Referring to our world-beating creative industries, Reeves, announced a forthcoming tax relief package to reduce costs for visual effects production in film and TV. Additionally, she confirmed £25 million in government backing for the Crown Works Studio site in Sunderland, which aims to bring 8,000 new jobs to the local area.
According to the official Budget document, the government's plans for tax reliefs for the UK's creative industries will provide £15 billion of support over the next five years.
The government will continue to broaden and diversify the talent pipeline in the creative industries by providing £3 million to expand the Creative Careers Programme, giving school children the opportunity to learn more about career routes and directly engage with the workplace, adds the document.
In a pre-budget survey conducted by film and TV PR consultants, Percy & Warren, UK production companies called for the Chancellor to explore policy reforms across the area, including R&D tax relief and encouraging growth in regional production hubs outside London.
Further updates and reaction to follow.
More from TVB Europe
23/12/2024
At IBC2024, Grass Valley CTO Ian Fletcher told attendees at GV Forum that broadcast is now an IT industry. During our discussions at the show, TVBEurope heard v...
23/12/2024
According to co-director Nick Park, the production team embraced technology to help create the iconic duos latest adventure
By Jenny Priestley
Published: Dec...
23/12/2024
VFX house Lux Aeterna used wave height data from the National Oceanic & Atmosphe...
23/12/2024
We are committed to supporting and investing in Foxtel's television and streaming services, across both sports and entertainment, using our world-leading te...
23/12/2024
From AI to IP, the cloud to virtual production, key industry executives take a look back at some of the biggest trends that impacted the media and entertainment...
20/12/2024
Liverpool Football Club produces over 100 pieces of content every week across its linear TV channel, OTT platform and social media channels. LFC's Drew Cris...
20/12/2024
Media Excel CEO Narayanan Rajan ponders whether AI will be the catalyst for medias future, and suggests that companies need to embrace AI today or risk falling ...
20/12/2024
Filming one of the world's most scenic rail routes in the depths of winter needed a planning operation that was second to none. Sohail Shah, MD of King of S...
20/12/2024
Compatible with the latest Nvidia RTX GPU, Photon delivers HEPC performance in a transportable chassis
By Matthew Corrigan
Published: December 20, 2024
Co...
20/12/2024
The taskforce will inform the Creative Industries Sector Plan, which aims to boost economic growth under the wider Industrial Strategy
By Matthew Corrigan
Pu...
20/12/2024
TVBEurope takes its annual look back at the biggest events in the media and entertainment industry during 2024, from the rise of AI to major live events, its be...
18/12/2024
The Blackmagic URSA Cine Immersive is described as the world's first commercial camera system designed to capture Apple Immersive Video
By Jenny Priestley ...
18/12/2024
A man in his 40s was arrested earlier this week as part of the SFOs ongoing investigation into the collapse of the company
By Jenny Priestley
Published: Dece...
18/12/2024
Richard Halton, UK MD, Roku, tells TVBEurope why every year feels like a revolution in the broadcast industry
By Contributor
Published: December 18, 2024 U...
17/12/2024
Costa Nikols, strategy advisor, M&E at Telos Alliance explains why FAST platforms must no longer accept good enough for audio
By Contributor
Published: Decem...
17/12/2024
Mike Wronski, Charlie Dunn and Anna Greco have also returned as executive vice presidents
By Jenny Priestley
Published: December 17, 2024 Updated: December...
16/12/2024
A newly published white paper from Nevion, a Sony Group company, looks at the various needs informing the use of video encoding in live broadcast production, an...
16/12/2024
Cronk will focus on scaling TVU's SaaS services, expanding its adoption among media organisations worldwide
By Tom Butts
Published: December 16, 2024 U...
16/12/2024
The annual awards celebrate new products/services or new upgrades to existing products/services in 2024
By TVBEurope Staff
Published: December 16, 2024 Upd...
13/12/2024
Offering 145,000 square feet of studio space, the expansion solidifies Production Parks position as the largest production campus in the North of England
By Ma...
13/12/2024
The Berlusconi-owned group has reportedly arranged a 3.4 billion credit facility to fund its aim to resist the US giants
By Matthew Corrigan
Published: Dece...
12/12/2024
With the launch of its latest audio solution Spectera, Sennheiser aims to start a revolution in audio production
By Matthew Corrigan
Published: December 11, ...
12/12/2024
Samira Bakhtiar, general manager of media & entertainment, games, and sports at Amazon Web Services (AWS), highlights why diversification is becoming mission cr...
12/12/2024
For German broadcaster RTL2's new streaming series La Familia - House of Reality, Munich-based production company SUPERAMA took on all aspects of post produ...
12/12/2024
A report on the DPPs Leaders Briefing 2024 reveals senior leaders within the industry are taking nothing for granted and are intensely focused on the future of ...
12/12/2024
Polish Prime Minister Donald Tusk said the move would safeguard Polsat and TVN from Russias attempts to influence Europes democracy
By Jenny Priestley
Publis...
12/12/2024
The new corporate structure will increase optionality to pursue further value creation opportunities for both divisions in an evolving media landscape, said the...
11/12/2024
Turner is the former general manager of Harris Broadcast's media software business
By Jenny Priestley
Published: December 11, 2024
Turner is the forme...
10/12/2024
TVBEurope talks to Peter Bellamy about his appointment as CRO at Deltatre, and w...
10/12/2024
Shares in Canal will be traded in London, Paris and Amsterdam
By Matthew Corrigan
Published: December 10, 2024 Updated: December 11, 2024
Shares in Can...
10/12/2024
The Portal offers technology buyers and vendors insights into the broadcast and media technology, pro AV, ad tech and sports industries
By Jenny Priestley
Pu...
09/12/2024
Reflecting the three stars on screen, Only Murders in the Building relies on a trio of editors to help bring the comedy and intrigue of the show to the screen
...
09/12/2024
Patrick Hastings will assume overall responsibility for the operational delivery of client requirements globally, said the company
By Jenny Priestley
Publish...
09/12/2024
Reynolds takes over from Tom Cotney who moves into the role of non-executive chairman of Imagines board
By Jenny Priestley
Published: December 9, 2024 Upda...
06/12/2024
At one third of the weight of its predecessor, ALEXA 265 features a revised 65mm sensor retaining 6.5K resolution with higher dynamic range, said ARRI
By Matth...
06/12/2024
The collaboration aims to increase the availability of 3D content for both creators and audience
By Matthew Corrigan
Published: December 6, 2024
The colla...
04/12/2024
Eveleens will succeed current CEO Rik Hoer e who has decided to leave after a decade with the company
By Jenny Priestley
Published: December 4, 2024
Evele...
04/12/2024
Amagi said it intends to integrate Argoid AIs algorithms into its existing platforms, including Amagi NOW and Amagi CLOUDPORT
By Jenny Priestley
Published: D...
04/12/2024
Ofcoms report warned that there is still evidence of a revolving door where employee retention rates remain lower than average among some underrepresented group...
03/12/2024
The awards are open to any company that launched a product/service or brought new upgrades to an existing product/service in 2024
By TVBEurope Staff
Publishe...
03/12/2024
Peter Oppersdorff, creative director of colour at Absolute, tells TVBEurope how a keen interest in all visual media gives him a wealth of influences to call on ...
02/12/2024
Lots will include cameras, lenses, and lighting from the company which closed its doors last month
By TVBEurope Staff
Published: December 2, 2024 Updated: ...
02/12/2024
The 6K animation was created using Apples iPhone 16 Pro Max
By Matthew Corrigan
Published: December 2, 2024
The 6K animation was created using Apple's...
02/12/2024
The issue includes a focus on asset management and storage, asks if broadcast is now an IT industry, hears from Dr Andreas Sennheiser about a revolution in audi...
02/12/2024
An ongoing criminal investigation is being conducted into the business practices of individuals associated with Arena Television Limited and its linked entities...
29/11/2024
The government said it intends to use a review of the corporations Royal Charter to consider funding options to support its long-term future
By Matthew Corriga...
29/11/2024
The city is collaborating with Ecotricity X Grid Faeries to explore the installation of power pillars
By Jenny Priestley
Published: November 29, 2024
The ...
29/11/2024
EditShare solutions enable secure, streamlined workflows between the Swedish post production houses sites
By Matthew Corrigan
Published: November 29, 2024
...
29/11/2024
He will take over management of the IT team at Zattoo, which includes infrastructure and administration divisions
By Matthew Corrigan
Published: November 29,...
29/11/2024
Her remit includes advancing TBSs global agenda and launching market-ready 5G media solutions
By Matthew Corrigan
Published: November 29, 2024 Updated: Dec...
The Chancellor has delivered the new governments first budget pledging a tax relief package for the creative industries
