Arts Funding Chronicles: Hunting for Theatre and Film industries

The third instalment of the Arts Funding Chronicles provides a glimmer of hope

Jessica Mckeown
2nd April 2024
Andrew Scott in 'Vanya' at The National Theatre, Photo Credit: IMBD
Chancellor Jeremy Hunt announced the Spring Budget at the start of March, which included a £26.4 million investment in National Theatre and a 40% tax relief for films budgeted up to £15 million.

The National Theatre investment, the largest government investment in their history, will be used to provide essential and urgent upgrades to facilities including repairs to the Olivier theatre scenery lift. The investment will support the creation of a National Theatre Skills Centre, which will provide opportunities for skills development, career support and training nationwide for over 5,000 people. The investment will also allow the National Theatre to expand the number of placements on offer in their South Bank building across a range of disciplines in conjunction with new T-Level qualifications in Production Arts.

The National Theatre, Image Credit: Wikimedia Commons

Lucy Frazer, Culture Secretary, has said: "For 60 years the National Theatre has been at the heart of British culture, putting on productions which showcase the best of our country’s creativity and hold a mirror up to society. This investment of more than £26 million will allow the National Theatre to continue to deliver world-class theatre and cultural education at their iconic London South Bank home, and reach audiences across the whole country, helping to inspire the next generation of actors, writers and theatre production staff."

The tax relief for UK productions come after years of ongoing calls for support for the struggling independent sector. Pact, a producer's organisation, first proposed the 40% tax relief in 2017. However, the tax credit is not just available to independent producers, but also can be accessed by big studios and streaming if they move towards smaller budgeted features that comes in under the £15m mark.

The tax credit was a key focus of the Culture, Media and Sport (CMS) committee with companies such as the BFI, BBC Film, Film4, Paramount and the Screen Alliance North among those calling for the support.

BFI Logo, Image Credit: Wikimedia Commons

Chancellor Jeremy Hunt also announced more investments in culture across the UK including £100m of 'levelling up' funding for the British Library North, National Railway Museum and National Museums Liverpool. The budget also includes £5 million for village halls and £1.6m for Theatre Clwyd. Despite an increase in investments for the Arts, concerns remain over struggling local governments who are likely to slash budgets for local arts.

Leave a Reply

Your email address will not be published. Required fields are marked *

ReLated Articles
magnifiercross
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
Copy link
Powered by Social Snap