U.K. Government Considering Offering Tax Breaks to Children's TV
Chancellor George Osborne says that he's seriously looking at possibilities to expand tax credits
U.K. chancellor George Osborne has revealed that he is considering extending tax breaks to children's TV in next week's budget.
"I am looking very seriously to see if I can look to expand tax credits to children's television and also look at it for orchestras," he said at the launch of a new arts and creative industries campaign group in London, as quoted in the Financial Times newspaper.
"It's not the pounds and pence you deliver," he added. "What you do is express who we are as a society, as a community, and you give voice to the people within those communities ... all of this is an expression of who we are as human beings."
The March budget saw Osborne give tax breaks to theaters, which now qualify for a 20 percent tax credit. Touring productions get 25 percent. In 2012, he unveiled an incentive for TV dubbed the "Downton Abbey tax break," which gave homegrown productions discounts between 20 and 25 percent on their corporate tax bill.
Earlier this year, Anne Wood, the creator of the Teletubbies, which became one of the U.K.'s most successful children's TV shows after it launched in 1997, said the industry had been "struggling for many, many years."