Sector rues ‘missed opportunity’ as Autumn Statement neglects TV

Bectu has slammed the “missed opportunity” for the screen sector, with chancellor Jeremy Hunt largely overlooking the industry in yesterday’s Autumn Statement.

In his statement, Hunt briefly mentioned how the UK’s creative industries “already support Europe’s largest film and TV sector” and called for evidence on extending film and high-end TV (HETV) tax reliefs to visual effects.

In the full statement, published after his address, the chancellor said the call for evidence will “inform the design of additional tax relief for expenditure on visual effects, which the government intends to deliver through the audio-visual expenditure credit”.

The statement has been met with disappointment by the TV sector, with Philippa Childs, head of creative union Bectu, stating that it “serves as yet another missed opportunity to stand behind the UK’s creative sector and its workforce.

She added: “There is little in this statement that offers the protection and reassurance our members need, following another very difficult year of soaring costs, a continuing skills shortage and long periods of unpredictable employment.”

Actors union Equity also criticised the statement as “short-term decisions for electoral gain.”

General secretary Paul W Fleming said: “The government’s continued support for our industry through tax reliefs and expenditure credits is welcome. But only as one step in a roadmap toward investing the European average of 0.5% GDP in the creative industries.”

Hunt’s VFX evidence call followed the Culture, Media and Sport committee’s plea for targeted tax support and changes to regulations impacting the British film industry, including a number of other recommendations such as a reforming the apprenticeship levy.

CMSC chair Caroline Dinenage said “the intention from the chancellor to look at ways to increase support for the UK visual effects sector through tax credits is a welcome step”.

“It is good to see that the Treasury has listened to the industry’s - and committee’s - concerns on the design as of aspects of the audio-visual expenditure credits, and we look forward to maintaining a positive dialogue with the government on other priorities as our inquiry progresses,” she added.

The government intends to consult on the detailed policy design of further support and intends to implement changes to the expenditure credit from April 2025.