Almost exactly a year after tax relief was introduced for high-end programmes, offering a 20% rebate for shows that cost more than £1m for an hour of television, the BFI has released information showing that the money injected into the UK economy by high end TV is now almost outstripping films.
Figures revealed by the British Film Institute this month show that over the past year patronage from US and other foreign TV studios has injected £224.7m into the British economy – more than half of all television spending this year. Tax reliefs for the industry have been a favored strategy by the current chancellor.
The recently aired 24: Live another Day, which sees Keifer Sutherland return for the first time in years to the role of agent Jack Bauer, is the first of the 24 series to be set in London, with a budget per episode of several million. It is one of dozens of big-budget US productions now filming in the UK.