More Generous Tax Breaks for Studios and Video Game Sector

British film and television chiefs are set to receive a boost with new, more generous tax breaks. This move aims to recreate the success of hit film Barbie, which contributed around £80 million to the UK economy and created over 650 jobs. The video game sector will also benefit from the new tax relief system.

Barbie: A Box Office Hit

The summer blockbuster Barbie, starring Margot Robbie and Ryan Gosling, was a global success, earning $1 billion worldwide. It played a crucial role in saving cinemas and drew in huge audiences, with more than 2,000 UK screens being filled on its opening weekend. The film was largely shot at Leavesden studios in Hertfordshire, where the iconic 'Barbieland' sets were constructed.

Supporting Animation and Children's TV Productions

Not only will the new tax breaks benefit film and TV productions, but they will also provide support for animation and children's TV shows. This change aims to help productions across the UK and nurture British production talent.

Backing the Future of British Creativity

Treasury Minister Nigel Huddleston expressed his support for the new tax credit system, stating that it will back the creators of the next Barbie, Happy Valley, and Grand Theft Auto. By making it easier for British film, TV, and video games to thrive, the UK aims to maintain its position as a world leader in creativity.