Source · Select Committees · Culture, Media and Sport Committee
Recommendation 26
26
Acknowledged
UK film and HETV industry remains exposed to global investment market forces.
Recommendation
It is tempting to see 2023’s inward investment crisis as a blip, but while the UK remains so exposed to US investment global political and market forces will continue to affect our film and HETV industry. Our recommendations to support domestic production should help ride out future storms, but the Government and industry must not become complacent about the UK’s status as the ‘Hollywood of Europe’. (Conclusion, Paragraph 94) 103 Supporting the workforce
Government Response Summary
The government acknowledges the importance of avoiding complacency to maintain the UK's international position in the film and HETV industry and commits to remaining a strong global partner and destination for inward investment.
Government Response
Acknowledged
HM Government
Acknowledged
We will also remain a strong global partner and retain our position as a destination of choice for inward investment. This is a globally interconnected industry where productions are by their very nature international partnerships developed across borders and seeking international audiences. A strong UK industry provides mutual benefits to both the UK and its international partners, and we will continue to support the sector to collaborate with global partners and investors. We recognise there is no room for complacency in maintaining our international position of strength, with many other countries offering generous tax incentives, infrastructure investment, and financial support for content creation.