Film: Finance:Written question - 230892

Q
Asked by Giles Watling
(Clacton)
Asked on: 11 March 2019
Treasury
Film: Finance
Commons
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the Seed Enterprise Investment Scheme in helping domestic film production companies raise funding.
A
Answered by: Mel Stride
Answered on: 19 March 2019

The Seed Enterprise Investment Scheme was introduced in 2012 to support investment in very early-stage companies, which often struggle to access growth capital.

As a non-sectoral scheme, no assessment has been made of the application of the SEIS to specific industries or sectors. Since its introduction, the scheme has helped over 8,000 companies from a range of industries to raise around £800 million in investment.

The government recognises the importance of the film industry to the UK economy, which is why it offers specific support for the production of culturally British films. Last year alone the film tax relief provided support worth £469 million, in addition to nearly £70 million in direct funding.

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