<p>The UK Government has a clear plan to grow the creative industries by a further £50 billion and support another 1 million jobs by 2030. This was set out in June 2023 in the Creative Industries Sector Vision, which was accompanied by £77 million of new funding to support the sector’s growth.</p><p>We are taking steps to support producers of all sizes and the production sector more generally. This includes generous tax reliefs across studio space and visual effects, investing in studio infrastructure, and supporting innovation and promoting independent content through the UK Global Screen Fund.</p><p>At Spring Budget 2024, the Chancellor also announced the UK Independent Film Tax Credit. Eligible films with production budgets (excluding marketing and distribution) of up to £15 million will be able to opt-in to claim enhanced Audio-Visual Expenditure Credit at a rate of 53% on their qualifying expenditure.</p><p>This is in addition to our long standing interventions supporting the independent television production sector, including the independent productions quota and associated Terms of Trade regime, which have been extremely successful in furthering the diversity of the sector and its output.</p>