Advertising Association welcomes CBI's new strategy to help the UK creative industry expand globally
CBI, The Confederation of British Industry, has released The Creative Nation, a new strategy welcomed by the likes of the Advertising Association to help British creative firms grow globally.
The strategy outlines how the Government and industry can work together to help creative industries – including film makers, video game developers and fashion designers – which already account for £36bn in Gross Value Added (GVA) and around 1.5 million jobs in the UK.
Among the steps, the CBI is calling for action to protect intellectual property and a European Commission backed tax credit for video games.
It has also asked for assurances that creative firms can access the finance they need to grow and for the UK government to “tilt the playing field” to help creative businesses export and expand overseas.
Katja Hall, CBI chief policy director, explained that with the right support, UK music artists could double their share of US album sales by 2025, which would ultimately boost the economy and jobs.
““The UK’s creative industries are already world-beaters and make a huge contribution to our economy. Now we need to build on this potential to help them achieve even greater global success,” she said. “We should keep thinking big, and with the right support our creative firms can continue to lead the world, create jobs and boost our economy.”
The Advertising Association welcomed the call for continued support, with chief executive, Tim Lefroy, saying: “The CBI has nailed it. They have pointed to advertising's 100 million effect on GDP, that the UK is the leading online advertising market in Europe, and that all of this could be jeopardised by overzealous EU policymaking. The industry must be vigilant in standing up for our rights.”
The full report can be read here.