PARLIAMENTARY WRITTEN QUESTION
Arts: Tax Allowances (11 September 2024)

To ask the Chancellor of the Exchequer, whether there are fiscal incentives for businesses looking to invest in creative industries in the UK; and whether she plans to take steps to encourage such investments.

Asked by:
Shivani Raja (Conservative)

The creative industries play a key role in driving economic growth. The Government is committed to supporting them and will implement a creative industries sector plan as part of the Industrial Strategy, creating good jobs and accelerating growth in film, music, gaming, and other creative sectors.

One of the ways that the Government incentivises investment in the sector is through the creative industry tax reliefs, which provide generous support for production costs of theatres, orchestras, museums and galleries and film, TV and video games companies. The reliefs delivered £2.2 billion of support to these industries in financial year 2022-23.

The government also provides a range of grant support.

Answered by:
James Murray (Labour)
7 October 2024