Today Ed Vaizey MP, Minister for Culture, Communications and Creative Industries, revealed the government's policy for film and declared Film London will head up the strategy for inward investment in the UK.

Nationally branded and delivered through a public-private partnership with key film industry players including Pinewood Studios Group, UK Screen Association and the Production Guild, its aim will be to promote the UK internationally as a world-class filming destination in order to generate vital investment opportunities.

The minister also announced that the BFI will have a key new role as the lead strategic body on film and the distributor of Lottery funds to UK film-makers. He also restated the Government's commitment to maintaining the valuable tax credit for UK films and confirmed that the share of Lottery funds for film will increase from around £27 million to around £43 million annually by 2014.

Ed Vaizey MP said: "Britain has a vibrant film industry and world renowned skills, expertise, and creativity.  The proposals I have announced today will give the industry the financial certainty it needs."

Adrian Wootton, Chief Executive of Film London, said: "I am delighted the DCMS has awarded Film London with this national remit. The government's commitment to this area of work, and the effective tax credit, demonstrates its understanding of how important a strong, vibrant and busy film production industry is in creating employment opportunities in the UK and making a significant contribution to the country's economy."

To deliver on its new national remit Film London will employ the knowledge and expertise of an advisory board, which will be drawn from industry partners, representative from the regions and nations and relevant stakeholders. Film London will also develop a strategic partnership with the BFI and work closely with Creative England.

Further details regarding the UK's inward investment strategy will be made available in the New Year.

Read the full press release.