UK Film Minister Ed Vaizey has announced today that the British Film Commission (BFC), the national body in charge of attracting, encouraging and supporting the production of international feature films in the UK, has formed a strategic new partnership with UK Trade & Investment (UKTI), as part of the UKTI’s ‘Open For Business‘ strategy.
The UKTI will provide an additional £400,000 over two years to the BFC’s budget, enabling the commission to step up its international impact and drive further investment to the UK. As well as allowing the BFC to maximise any benefits of the proposed TV tax credits if they are implemented in April 2013, the partnership will bring together the commission’s film expertise and existing industry relationships with the wide international coverage provided by the UKTI network. In this way, it’s hoped that it will extend the UK’s international commercial activity through film, as well as growing inward investment.
Adrian Wootton, Chief Executive of the British Film Commission and Film London, commented: “This is fantastic news for the British film industry and the UK economy. We have seen huge investment from the US studios, which is in part thanks to the BFC having a dedicated team working directly with producers and decision makers in North America. This partnership will allow us to extend that remit, driving new investment in the UK. We have the facilities and the talent in the UK to welcome additional film and high end TV production. Following our work with key national public and private industry partners laying the groundwork for the potential TV tax credit, we are delighted to be working with UKTI to exploit that, grow our commercial activity and forge new networks in the emerging markets.”
Trade and Investment Minister Lord Green said: “The UK has one of the strongest creative content sectors in the world and I am delighted that this partnership with Film London and the British Film Commission has been forged to increase investment in the UK film industry. With the world’s spotlight on the UK this summer we are working hard through the British Business Embassy programme to enable companies to capitalise on the unique opportunity we have in 2012 to secure new trade and investment.”