U.K. Production Hits New Highs, Spurred by Tax Reliefs

Philip Hammond, Britain’s chancellor of the exchequer, has hailed “Peppa Pig,” “The Crown,” and “Darkest Hour” and said authorities remain committed to tax relief for U.K.-produced film and high-end TV. The chancellor was speaking after new research showed that £632 million ($825 million) of relief seeded £3.2 billion of production spend in 2016, the latest year for which there is data. The overall economic contribution from the screen sector was £7.9 billion.

Hammond said the U.K.’s creative industries are “a key component of our great, global trading nation.” He added that he was “confident that the creative industries will continue to grow, provide strong employment and be the face of British culture to the world in future years.”

Brexit is looming, but ahead of the U.K. leaving the European Union the country’s film and TV sectors are booming, according to the figures in the BFI-commissioned study. It measured the impact that tax relief has had across film, TV, animation, and games. The 2016 production figure represents a 17% increase on the previous year. The figure has doubled over a nine-year period.

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