A BRITISH film and television studio says it welcomes the government’s decision to give further tax breaks to the UK film industry.

Pinewood Studios in Iver, has expressed its delight at the EU’s approval of the Conservative government’s scheme to allow production companies to claim 25% tax credit on all qualifying productions rather than on the first £20million qualifying productions. Previously this tax relief only applied to the first £20 million of qualifying expenditure and 20% for spending thereafter.

Initially appearing in the Budget in March, Chancellor George Osborne had said he hoped the move would help attract more blockbuster productions to the UK, however the scheme needed to be passed by the EU due to state aid rules affecting government control over companies.

A spokesman for Pinewood Studios said: “It is a further example of the government supporting the UK film industry and it will help develop and fuel growth in the creative industry as a whole.”