BFI to receive 8% financial cuts over four years
by Naman Ramachandran
- Country’s lead organisation for film to lose £1.34 million
The British Film Institute (BFI) will receive an 8% cut to its Grant-in-Aid over the next four years, which represents a total reduction of £1.34 million over the period. Amanda Nevill, CEO of the BFI said, “In such a challenging financial environment this is a better than anticipated result for UK film and demonstrates the Government’s continuing support for a sector that makes such a valuable cultural and economic contribution. This settlement is testament to the hard work of a Secretary of State and his Ministerial team who are committed to the future of British film and the jobs and growth that the screen industries bring to the UK.”
“British film is thriving buoyed by our world class talent and internationally competitive tax reliefs. The BFI’s work in expanding education and skills opportunities, supporting our future filmmakers, protecting our National Film & TV Collection and making sure we can all enjoy the very broadest choice of film is vital to sustain long-term growth,” Nevill added.
Nevill continued, “We look forward to working closely with all our colleagues and partners to find even more inventive and entrepreneurial ways to ambitiously grow our vibrant film culture in the UK and further enhance our international reputation for creativity.”
The cut was announced after the Chancellor of the Exchequer George Osborne delivered his Autumn Spending Review. It comes on the back of an earlier 10% budget cut for the current financial year and a total of 18% of funding reductions over the last three years.