Creative sector welcomes more funding

Chancellor George Osborne announced a plan to build on new tax reliefs coming in this year for sectors like high-end television with “new support for our world-class visual effects sector”. Funding for the Skills Investment Fund will rise to £8m a year, up from £3m, over the next two years, with the Government match-funding voluntary industry contributions to support skills development in digital content sectors.

It also said the Technology Strategy Board will launch a new competition of up to £15m inviting consortia bids to support digital content production through partnerships with industry.

The Yorkshire region is home to a hotbed of creative and digital firms, including VTRNorth Leeds. Its MD Spencer Bain said he was glad to hear about the Government supporting the creative industries. “The Government helping through the tax system suggests helping new start-ups, which will allow new talent to get noticed which will always get my support.”

He added: “I worry if a lot of money gets put into training that we will end up with universities churning out more artists than the industry can employ, but welcome the financial support offered in training staff, engineers and artists to develop their skills and keep up to date with the ever changing technology.”