Creative UK-supported Distortion Studios’ permanent virtual production studio opens this month
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The Chancellor is right to respond with urgency to the cost of living crisis, but once again, creative freelancers, entrepreneurs and those early in their careers will be among the hardest hit by the impacts of inflation. Critical steps must be taken in advance of the Autumn Budget if we are to truly unleash the potential of the UK’s Creative Industries and ensure opportunities are open to all.
We call on government to:
1. Support UK freelancers
The Creative Industries are powered by people. The rise in inflation will have a debilitating impact on workers, particularly freelance workers, entrepreneurs and those early in their careers. Vital safety nets – such as sick pay, parental pay and pensions – will be essential to sustain and grow our freelance workforce, and demand urgent review.
2. Drive creative investment
The Creative Industries have the potential to create 300,000 new jobs and £28bn by 2025. Creative Industries Tax Reliefs have been highly successful in driving investment into all parts of the UK, and it’s now essential that they are expanded in the Autumn Budget to turn government’s Levelling Up agenda from a soundbite to reality.
3. Unleash creative ideas
Ideas are the lifeblood of the UK’s world-leading Creative Industries, but the opportunity to bring them to life is limited by the scope of R&D tax reliefs. It is encouraging to see “design” plugged as a strength sector to be boosted by these reliefs and we urge HM Treasury to expand the scope further to encompass the Arts, Humanities and Social Sciences.