The government has announced that the scheme giving tax relief to "culturally British" films will be extended to at least 2015. Since its inception in its current form in 2006, the scheme has been widely seen as facilitating production of major films in British studios, with Harry Potter and the Deathly Hallows, The King's Speech, Pirates of the Caribbean: On Stranger Tides and the forthcoming Bond film Skyfall all being covered by its remit.
Reaction from across the British film industry has been largely positive. Greg Dyke, chair of the British Film Institute, said: "This announcement will be greatly welcomed across the film industry and will give confidence, particularly among independent film-makers, at a time when access to finance is increasingly difficult." Iain Smith, chair of the British Film Commission said: "It puts a level of stability in place which allows us … to continue to drive the industry forward and grow and develop [it] in this country."
The scheme is designed to provide tax relief to productions that are certified as British and must spend at least 25% of their production costs in the UK.
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