A new £400,000 of funding will help to secure foreign investment in the British film industry, says Ed Vaizey, Minister for Culture, Communications and Creative Industries. The funding will got to the British Film Commission, where it will be used to promote UK talent and facilities for both film and television production.
Earlier this year, Vaizey stressed his commitment to continued government investment in this industry, saying "Economically and culturally British film makes a great contribution and it’s vital that we make the most of the very real opportunity for economic growth it offers." Since then there has been controversy surrounding the use of tax-relief schemes in film funding, but this new initiative will focus not on funding within the UK but on attracting overseas investment, particularly from the US.
The UK is increasingly seen as a good bet for making high end, studio-based films that require technological expertise. In the past, set security has been an issue with otherwise popular venues, but the UK's reputation in this regard is now improving.
The new funding has been secured through a partnership with UK Trade & Investment.