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Taxation: Film

Volume 457: debated on Monday 5 March 2007

To ask the Chancellor of the Exchequer what assessment he has made of the impact on the British film industry of the tax breaks for films made in the UK announced in 2005; and if he will make a statement. (124151)

New tax reliefs for the production of British films were announced in 2005 and included in the Finance Act 2006. They came into effect from 1 January 2007. It is therefore too early to be able to say what effect they have yet had. However, the new reliefs were developed in close consultation with the industry and we anticipate that they will be extremely effective in promoting a sustainable British film industry.