A new report from the British Film Institute (BFI) reveals that film and high end TV tax breaks have resulted in the highest ever return on investment in the U.K.
The report, which covers the pre-pandemic period from 2017-2019, calculated that tax reliefs across film, high-end television, video games, children’s TV and animation contributed £13.48 billion (almost $18 billion) to the U.K. economy in 2019 thanks to record levels of production.
This amounts to a 56% increase in return on investment since 2016.
According to the report, titled “Screen Business,” every £1 of U.K. film tax relief generates £8.30 for the U.K. economy via direct spend on screen production (which has increased by 74% to £13.86 billion between 2017-19), local business and infrastructure growth, job opportunities, inward investment e.g. in studio space, exports of U.K. services and productions, travel, retail and tourism (Bath, for example, now…