Studios to Receive More Tax Relief
British film and television chiefs are set to receive a boost with more generous tax breaks, aimed at replicating the success of the hit film Barbie. Under the new system, studios will receive increased tax relief, and the video game sector will also benefit.
Barbie Film Contributed £80 Million to UK Economy
The box office hit Barbie, which starred Margot Robbie and Ryan Gosling, made a significant contribution to the UK economy, generating around £80 million and creating over 650 jobs. The film was primarily shot at Leavesden Studios in Hertfordshire, where the iconic 'Barbieland' sets were constructed. Barbie's success has been credited with saving cinemas worldwide, with Vue International reporting that over 2,000 of its UK screens were full on its opening weekend.
Animation and Children's TV Productions to Benefit
The change in tax rules will also benefit animation and children's TV productions, providing support for productions across the UK.
Backing British Production Talent
Treasury Minister Nigel Huddleston expressed his support for the new tax credit system, stating, "We are backing the makers of the next Barbie, Happy Valley, and Grand Theft Auto with this new, more generous, tax credit system for British production talent. The UK is a world leader in creativity, and we want to ensure that continues well into the future by making it easier for British film, TV, and video games to thrive."
Did you miss our previous article…
https://hellofaread.com/politics/carrie-johnson-shares-baby-bump-photo-and-addresses-pregnancy-rumors/
