00:00 I now turn to our creative industries. We have become Europe's largest film and TV production centre,
00:08 with Idris Elba, Keira Knightley and Orlando Bloom all filming their latest productions here.
00:13 Studio space in the UK has doubled in the last three years and at the current rate of expansion
00:19 next year we will be second only to Hollywood globally. And today I particularly want to
00:25 recognise the contribution of our creative industries and the tourism that comes from
00:32 orchestras, museums, galleries and theatres. In the pandemic we introduced higher 45% and 50%
00:42 levels of tax relief which were due to end in March 25. They have been a lifeline for performing
00:49 arts across the country. Today, in recognition of their vital importance to our national life,
00:57 I can announce I am making those tax reliefs permanent at 45% for touring and orchestral
01:03 productions and 40% for non-touring productions. Lord Lloyd Webber says this will be a once-in-a-generation
01:11 transformational change that will ensure Britain remains the global capital of creativity.
01:18 (audience laughing)
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