Saturday, 31 March 2012
UK arts community lambast government tax policy
Having been told that arts subsidies were being dramatically cut by the current UK Government, and that arts companies large and small should embrace private funding, sponsorship and philanthropic donations, the arts community has now discovered that George Osborne's latest budget cuts the amount of tax relief on charitable giving to just £50,000. Better news for film and TV where George Osborne vowed to “keep Wallace & Gromit exactly where they are” by introducing tax breaks for British animation, video games and certain “high-end” television productions. The Chancellor pledged tax breaks for certain productions, after major businesses including Wallace and Gromit-creator Aardman Animations warned they would have to move production overseas because they could no longer compete in Britain.