Nordicity and project lead Olsberg SPI’s latest research for the British Film Institute (BFI) finds that the UK’s screen sector had an economic impact of £7.9bn on the UK economy, and shows how the UK tax reliefs help fuel the boom in the screen industries.
Our research found that an estimated £632 million in tax relief seeded £3.16 billion in direct production spend in 2016, a 17% increase on 2015. UK-made productions generated £7.9 billion as the screen sector’s overall economic contribution (GVA), including £2 billion in tax revenues. Production spend which would not take place without the tax reliefs, known as additionality, doubled GVA to £4.1 billion in 2016.
The report has been produced by Olsberg SPI with Nordicity, and commissioned by the BFI, working with industry partners including the British Film Commission (BFC), Pact, Pinewood Group, UK Interactive (Ukie), the UK Screen Alliance and Animation UK.
For more information, contact Dustin Chodorowicz, dchdorowicz@nordicity.com