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Budget 2012: mixed news for the country, better news for the industry

21 March 2012

Like other trade unions, BECTU’s immediate response to today’s Budget is that it regrets the continuing drive by the Tory government – backed by the Lib Dems – to pursue policies which threaten to worsen the country’s economic problems rather than solve them.

On top of yesterday’s parliamentary approval of the Tories’ attack on the NHS, today's budget adds up to a bruising couple of days.

That said, there is some industry-specific good news which it is important for us to recognise.

Planned boost for TV production, Animation and Games

The chancellor has listened to the arguments of the TV industry, including BECTU, in favour of a TV tax incentive similar to that introduced by former Labour leader Gordon Brown which has worked well in the film industry. In further good news, it is expected that the new tax credits scheme - details yet to be revealed - will also apply to Animation and to the Games sector.

Assistant general secretary, Martin Spence said:

“We welcome today's industry-specific proposals, which will help restore a level playing field in high-end TV drama. Most other European countries already have TV tax breaks, and UK workers and suppliers have been losing out as British drama projects have gone abroad.

"A new tax credits scheme for TV will help keep this work in the UK, and generate new jobs by attracting additional inward investment.

"The inclusion in a proposed scheme of Animation and Games is also very good news for sectors where UK expertise is recognised  and valued worldwide but where operations require incentives for investment to compete effectively in a global market."

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