Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has had discussions with relevant stakeholders on the potential to use tax incentives to encourage investment in the creative industries.

The UK offers eight creative industry tax reliefs for film, high end TV, animation, children’s TV, video games, orchestras, theatres and museums and galleries exhibitions. The reliefs have a key role in stimulating growth and encouraging investment in the UK’s world-leading creative industries. Inward investment in UK film and high-end TV reaching a record figure of more than £5.3 billion in 2022.

The Chancellor has identified the creative sector as a priority for economic growth. The Chancellor regularly engages stakeholders, including through the Creative Industries Conference which the Chancellor hosted on 3 May 2023. The conference brought together industry leaders and stakeholders from across the creative industries and covered a range of issues related to driving further growth in the sector.

The Government keeps the tax system under continuous review. Any changes to tax reliefs would be communicated through the normal fiscal event process