Dollar, strike impact U.K. prod'n
EmptyProduction spending in the U.K. dipped to £723 million ($1.4 billion) in 2007, down from the previous year's tally of £855 million, according to the latest stats from the U.K. Film Council.
Inward investment from international filmmakers, which includes Hollywood studio productions that took place here, fell 13.9%, bringing £508 million ($994.5 million) into the British economy in 2007 compared with £590 million in 2006.
The Film Council said the weak dollar, the beginning of the writers strike and the effect of the structure of the new tax credit on co-productions contributed to the slump.
No films fell into the inward co-production category in 2007, a clear signal that the tax changes have affected co-productions.
The U.K. was involved in 28 co-productions, with a total British expenditure of £73.8 million ($144.5 million), down one-third from 2006's figure of £112 million with 53 films.