Starmer should back much loved British TV and film for growth, says Sky boss DANA STRONG
Back entertainment: Dana Strong is calling for Labour to maintain the UK's position as a destination for entertainment production
This week marks a significant transition for the UK, with new leadership at Number 10 and a change in political power for the first time in 14 years.
As we step into this new era, it is imperative that we seize the opportunity to ensure the UK creative industries continue to lead globally.
Labour has committed to a growth agenda, aiming to bring financial resilience to our national economy. It's never been more crucial for Government and businesses to work hand in glove to create a policy environment that enables us all to thrive.
If the new Prime Minister aims to grow the economy, he should focus on the UK's world-leading media and entertainment sector.
Projections show this sector could be worth an additional £10 billion a year by 2033, rising from £43 billion in 2021 to £53 billion, and creating 40,000 British jobs.
British content is not just loved here, it's cherished all over the world. International demand for our content is set to grow by 50 per cent by 2033, as the UK continues to command a significant share of the international market.
A creativity-centred economy benefits the entire nation. Evidence suggests that growing our creative exports could bring an additional £2 billion annually to UK tourism, as overseas fans travel to see iconic locations from their favourite films and TV shows.
To achieve this thriving cultural economy, we need a supportive policy environment that fosters innovation, attracts investment and ensures global competitiveness.
Ensuring the industry has the necessary skills will be essential.
The British Film Institute Skills Review 2022 estimated that film and high-end television will require between 15,130 and 20,700 additional full-time employees by 2025.
The Wicked film - set to be released in November 2024 - created over 2,000 jobs while it was filmed at Sky Studios Elstree.
ScreenSkills has identified crucial pressure points in entry and mid-tier roles in the screen industries, including shortages of 2D and 3D animators and designers, sound technicians, and hair and makeup artists.
Labour's manifesto commitment to transform the existing Apprenticeship Levy into a 'Growth and Skills' Levy would help address these shortages.
Wicked: The upcoming release starring Ariana Grande and Cynthia Erivo (pictured) was filmed at Sky Studios Elstree - and created 2,000 jobs
The proposal could allow companies to spend up to 50 per cent of their levy contributions, including current underspend, on non-apprenticeship training, unlocking significant funds for upskilling programs.
For example, at Sky alone, this would allow us to invest over £5 million more in training for media-related roles without the existing restrictions.
It's vital to ensure we have the right people, with the right skills to meet demand - from Bridget Jones to Jurassic, to Mr Bigstuff and Bad Tidings.
Without a strong pipeline of talent, it is inevitable that the sector will have to postpone important projects until positions are filled. Therefore, swift implementation of this policy is essential.
The previous Government recognised the importance of an internationally competitive audio-visual tax environment to attract significant inward investment and support British content production.
As Rachel Reeves, our new Chancellor, prepares plans for her first Budget, I urge her to ensure we maintain the UK's competitive edge as a top content creation destination.
This includes preserving the current audiovisual tax relief environment and conducting regular benchmarking to ensure UK incentives remain competitive globally.
Expanding R&D tax credits to include creative endeavours, not just science and technology, would further boost innovation and growth.
Countries like Germany, France, Italy, South Korea, and Mexico already do this, and the UK must keep pace to maintain a thriving cultural economy.
This country is fortunate to have all the necessary ingredients - language, talent, and culture - to successfully export our cultural output worldwide.
Labour values this sector highly, but there is even more potential to unlock.
By seizing opportunities and partnering with businesses, the payoff could be astonishing, significantly boosting diplomacy, national renewal, and economic growth.
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