The success of the film ‘The King’s Speech’ makes me realise that we should be very proud of our film industry.
British-made films like ‘Harry Potter’ and ‘James Bond’ are internationally renowned and are among our prestige exports which really fly the flag for Britain abroad.
If you watch the credits at the end of a film, you might notice how several production companies join together to share the huge costs involved.
In 2004, Gordon Brown, then Chancellor, managed to ruin many films in production by suddenly ending a tax incentive without warning. The result was a 40 per cent drop in the number of films made in Britain that year. After months of uncertainty, Brown felt obliged to offer British film –makers a tax credit ‘sweetener’, but not before damage was done.
While some stars are highly paid, lesser known actors and freelance staff rely on a stream of work for their livelihoods.
Despite spending reductions to deal with the budget deficit left by Labour there is still good support for our film industry .
As my colleague Jeremy Hunt, the Culture Secretary, has already said: “We must step up our ambitions and make the UK the best country for nurturing its home-grown creative talent.”