Rachel Reeves: 'Independent film boost helps show why Britain's best days lie ahead'

From Billy Elliot to The King’s Speech, British independent films tell iconic stories.

They often shine a light on tales that would otherwise go untold. They make us laugh, cry and cheer for iconic British heroes, villains and everyone in between. We owe a great deal to the industry. And as Chancellor where that matters most is in the wealth it brings to the UK economy and the jobs it creates.

The sector has continued to go from strength to strength. Courting investment from some of the world’s most influential studios. Providing a stage for home grown talent – for those in front of the camera as well as behind the scenes. And the rich supply chain of costume designers, catering companies and production support. That’s why the industry has this government’s support. The tax relief for independent film is an investment in the growth of the sector.

And importantly, that investment is already seeing returns. Just yesterday, Pinewood Studios, home to the legendary 007, announced it will launch a new hub for independent filmmakers in direct response to this relief. This is an example of how this government will work hand in hand with business to grow the UK economy. And the main reason it matters is jobs. As an industry grows, it creates new opportunities.

I’ve made a point of being honest with the public about the tough financial position we inherited. But we won’t let the challenges of the past define our future. Britain’s best days lie ahead. A Britain with growing industries that compete globally. And it’s not just me that takes this view. Pinewood’s investment shows they think it too. Amazon Web Service’s recent £8billion investment also shows it.

And on Monday the world’s biggest businesses and investors will arrive in the UK for our investment summit because they think it too. They want to hear about our plan for this country. And we’re ready to tell them. A Britain trading, competing, and leading in a changed world. A Britain founded on the talent and the effort of working people. That is the Britain we’re building.

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