Budget boost for film

Chancellor announces increase in state aid.

by Jennie Kermode

Osborne: "Britain is a cultural center of the world, and with these tax changes, I am determined we will stay that way."
Osborne: "Britain is a cultural center of the world, and with these tax changes, I am determined we will stay that way."

Further support for the film industry was announced today as Chancellor of the Exchequer George Osborne presented his Spring Budget to the House of Commons.

The 25% tax credit allowance previously applicable to the first £20m of any one film's budget is to be extended so that it applies to all expenditure. It was previously only available at 20% on the remaining portion of larger budgets.

"Our creative industries are already a great contributor to the British economy," said the Chancellor. "We back them again today. We make our TV and film tax credits more generous... the distinction between limited budget films and all others will be removed."

The changes will require approval by the European Commission, which aims to ensure fair competition between creative industries in different European states. They will apply either on the date this approval is received or on the 1st of April, whichever is later.

Opposition politicians have argued that the move is part of a package of measures designed to win over voters in the run-up to the General Election and may not represent an ongoing commitment to film.

Share this with others on...

Keeping his word Michael Apted in conversation on 63 Up

Talking about juxtapositions Thom Powers on dreams, fashion, identity, nature and bright spotlights in DOC NYC

Dedicated to DA Pennebaker Thom Powers on Martin Scorsese, Michael Apted, the Masters and Winner’s Circle in the tenth edition

Free to become someone else Costume designers Ann Roth and Carlo Poggioli on The English Patient

Oscar documentary feature longlist announced 159 entries under consideration for 92nd Academy Awards

Glasgow announces country focus and retrospective Iceland and dystopian futures take centre stage

More news and features

We're bring you coverage of the London Korean Film Festival and DOC NYC and the French Film Festival.

We're looking forward to Tallinn Black Nights and Welsh horror festival Abertoir.

We've recently been at the Valencia Film Festival, New York's NewFest, the Cambridge Film Festival, the New York Film Festival, the London Film Festival, the Iris Prize Festival in Cardiff, Manchester's Grimmfest, the Scottish Queer International Film Festival and the San Sebastian Film Festival.

Read our full for more.

Visit our festivals section.


More competitions coming soon.