BFI welcomes tax breaks

Tax Breaks to Get Cameras Rolling

Under the measures, films costing under £15 million would be able to write off their production and acquisition bills against tax once the film is completed.

City consultants predict that the tax breaks could boost investment by more than 30% in the first year, create as many as 11,000 jobs and send film exports soaring by a third.

The measures were immediately welcomed by British film-makers. "This is a real shot in the arm for the British film industry," said Wilf Stevenson, director of British Film Institute.

"Until now Britain was alone in Europe in not having some form of tax incentive aimed at levelling the field for film makers," he added.

"It is what everyone involved in British film has been asking for since 1985," said Graham Benson, chairman of the Producers' Alliance for Cinema and Television.

"It will encourage the production of successful films based on British talent, such as Four Weddings And A Funeral, back to Britain," he added.

For many years film-makers have pointed to Ireland's success in attracting productions through a more favourable tax environment.

But British facilities are rated among the best available, drawing a string of blockbuster films such as 101 Dalmatians, Lost In Space and The Avengers.

"Under the new tax system British film makers will be better able to exploit natural advantages such as the English language and capitalise on world class skills and creativity," said Mr Benson,