During the summer the UK government announced a new inquiry to investigate what needs to be done to “maintain and enhance” the UK’s position as a global destination for film and television production.
Conducted by the Culture, Media and Sport Committee, the inquiry invited submissions from stakeholders on numerous topics, including the identification of barriers to maintaining and increasing overseas investment. The UK currently encourages production in the UK through the provision of a generous tax relief framework which has paid out billions to companies ultimately owned by overseas entities.
The Committee sought input on what more could be done to further incentivize production in the UK. In their submissions, companies and their industry groups appear very keen for these financial incentives to continue, but many other areas are highlighted as either problematic or in need of attention.
For the major Hollywood studios of the MPA, IP protection and piracy remain key…