UK Film Minister Announces New Strategic Partnership Between UK Trade & Investment And The British Film Commission
Date posted: 31.07.2012
UK Film Minister Ed Vaizey announces today that UK Trade & Investment (UKTI) and the British Film Commission (BFC) will form a new strategic partnership. UKTI will provide an additional £400k over two years to the BFC's budget and enable the commission to maximise its impact across the globe, driving further investment to the UK.
Combining the BFC's film expertise and relationships with the wide international coverage offered by the UKTI network, the partnership provides a vital opportunity to grow inward investment and extend the UK's international commercial activity through film. It will also allow the BFC to maximise the benefits of the proposed TV tax credits if it goes ahead in April 2013.
Adrian Wootton, Chief Executive of the British Film Commission and Film London, said: "This is fantastic news for the British film industry and the UK economy. We have seen huge investment from the US studios, which is in part thanks to the BFC having a dedicated team working directly with producers and decision makers in North America. This partnership will allow us to extend that remit, driving new investment in the UK. We have the facilities and the talent in the UK to welcome additional film and high end TV production. Following our work with key national public and private industry partners laying the groundwork for the potential TV tax credit, we are delighted to be working with UKTI to exploit that, grow our commercial activity and forge new networks in the emerging markets."
Trade and Investment Minister Lord Green said: "The UK has one of the strongest creative content sectors in the world and I am delighted that this partnership with Film London and the British Film Commission has been forged to increase investment in the UK film industry. With the world's spotlight on the UK this summer we are working hard through the British Business Embassy programme to enable companies to capitalise on the unique opportunity we have in 2012 to secure new trade and investment."
The BFC is the national body in charge of encouraging and supporting international feature film production to the UK, it promotes and supports the UK film and TV production infrastructure and liaises between the UK Government and industry on legislative issues that impact on film production. Its current remit focuses on film and attracting investment from the US. The partnership with UKTI, along with crucial funding, will allow the BFC to effectively extend its remit to global territories, and specifically capitalise on the opportunities presented by emerging markets and international high end TV production.
The partnership is part of UKTI's 'Open for Business' strategy which encourages new partnerships and strategic relationships that will help realise government's ambitions for growth through international business.
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Notes to Editors
About the British Film Commission
The British Film Commission (BFC) is the national body in charge of attracting, encouraging and supporting the production of international feature films in the UK. With offices in the UK and the US, the BFC provides free professional advice to help make productions in the UK a reality.
The BFC has seven commercial sponsors, who form the membership of the agency's innovative public/private partnership: Disney, Double Negative, Framestore, Harbottle & Lewis, Pinewood Studios Group, RSM Tenon and Warner Bros. UK and its UK-based film production operations.
The British Film Commission is managed by Film London through a public/private partnership which is funded by the Department for Culture, Media and Sport through the BFI.
About The British Business Embassy
The British Business Embassy has been created at Lancaster House during the six weeks of the Olympics, to ensure a strong business legacy from the Olympics. The Embassy includes the annual Global Investment Conference on July 26, followed by a series of 17 global business summits, each targeted at a sector or country. The events will attract over 3,000 Government Minsters, business leaders and policy-makers from the UK and around the world, allowing businesses and Governments to exchange views and ideas, discuss local and international economic challenges, develop strong global partnerships for future growth and showcase the best of British business to the world.
Details of the programme and live feed from the events can be found at www.ukti.gov.uk/britishbusinessembassy.