george osborne announces 6m investment in creative industries

George Osborne announces £6m investment in creative industries –

Announced in the Autumn Statement, the co-investment between industry and Government will have a total worth of £12m. It is estimated to provide entry and professional level training for over 3,300 individuals working in film, TV, animation and video games. The investment will be available from April 2013.

The Chancellor George Osborne has responded to considerable growth in the film, TV and animation industries over the last few years. Overall the creative industries, who overall provide 5.1% of the UK’s employment.

Creative Skillset will work with representatives of each industry to ensure that all investments made will be targeted at areas of priority.

Creative Industries Minister Ed Vaizey said:“Our Creative Industries are worth over £36 billion a year at the latest count.  They are a real success story and a key part of our economic growth strategy. But they need to make sure that they can continue to compete in the global marketplace – which is hugely competitive and constantly evolving. This new £6m investment will make sure that our Creative Industries have people with right skills to make sure they stay at the top.”

Chair of Creative Skillset Stewart Till CBE said: “Through the Treasury consultation on tax relief our industries have identified the UK’s skills and talent as one of the principal drivers of growth and of our global reputation.  We applaud the Government for taking this issue forward.  This much needed and welcome injection of one-off co-investment will help incentivise the delivery of training to develop skills that will support the growth in jobs that the tax reliefs will bring.  We are delighted that Creative Skillset will be progressing this crucial initiative.”

The fund will be routed through Creative Skillset’s Skills Investment Fund which currently manages film industry investment. Over the last five years Creative Skillset has managed combined investment funds of £25 million for training provision in film and TV, providing support to nearly 6,000 beneficiaries.