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Welsh Government

 

Economic Action Plan

The Cabinet Secretary for Economy has announced the next stage of the Economic Action Plan (EAP) introducing the Economic Contract, Call to Action and Economic Futures Fund. The plan seeks to grow our economy and has been developed to meet the needs of today and to prepare for the challenges and opportunities of the future.

The Economic Contract is the framework for a new relationship with businesses looking to access finance, requiring businesses to demonstrate their commitment to growth, fair work, employee health and skills and reducing their carbon footprint, reflecting the kind of business behaviours that many successful and responsible businesses exhibit.  

Designed to help businesses prepare for the future and adapt to the challenges they may bring. For Wales, these Calls to Action are designed to enable more inclusive economic growth by promoting regional strengths and tackling structural challenges.

  • decarbonisation
  • innovation, entrepreneurship and headquarters
  • exports and Trade
  • high quality employment, skills development and fair work
  • R&D, automation and digitalisation

Economic Futures Fund

The Welsh Government are introducing a streamlined finance package bringing together existing finance schemes into a consistent approach, simplifying the process for businesses and allowing Welsh Government to be flexible in how it uses the resources it has to meet business need, and deliver against the points highlighted in the Economic Contract and the Calls to Action.

For more information email CreativeIndustries@gov.wales

You can view the strategy on the Welsh Government website.


Media Investment Budget

The Media Investment Budget can provide commercial funding for TV and film productions.  

Decisions to invest from the television and film investment fund are made on a case by case basis and on the condition that you shoot at least 50% of your production in Wales and 40% of your below the line production budget must be spent on ‘Welsh Production Expenditure’ which is defined as follows; expenditure on goods and services supplied by businesses and individual freelancers located in and operating from or within Wales. This spend will need to be evidenced at the end of each project, through an independent, audited report.
 
The Welsh Government (WG) will share in any commercial upside from film or television projects, whether in box office receipts or where television programmes are distributed globally.

We are happy to look at projects from a fairly early stage, but in order to make a decision on whether or not we would consider investing into the project, we would require the following information:

•    Script
•    Budget
•    Finance plan showing other investors
•    Sales Estimates
•    Evidence of any pre sales confirmed
•    Any cast and key personnel attached

It helps if you have the following firmer details to make a more swift decision:

•    Confirmed producer 
•    Confirmed budget of shoot, including Welsh spend
•    Completion guarantee from a bond company
•    Confirmed cast
•    Major territory presales to give WG confidence in sales estimates provided 
•    Complete finance plan
 

For more information email CreativeIndustries@gov.wales

 

Sky Vision

If you're an independent production company based in Wales or a UK based company looking to produce your shows in Wales, you might be eligible for funding. Sky Vision has teamed up with the Welsh Government to support independent TV production in Wales by investing £400,000 in funding for new factual and entertainment programmes. For more information visit the Sky Vision website where you will find guidance notes and an application form.

Welsh Government has grant funding available for those projects that can demonstrate high levels of Welsh expenditure. For further details e-mail Wales Screen who will put you in touch with the right person. 

 

Further information on Welsh Government assistance can be found at the bottom of the page.

 

External Organisations:

 

Ffilm Cymru Wales

Ffilm Cymru Wales have a remit to help to develop a film sector in Wales and maximise the economic, educational and cultural benefits of film.

They support Welsh or Wales-based writers, directors and producers with development and production funding, industry assistance and mentoring opportunities. They also promote the use of film in education and community regeneration.

For more information visit the Ffilm Cymru Wales website.

 

UK Tax Relief

The British Film Institute’s (BFI) certification unit is the first point of contact for applicants wanting to qualify their film, high-end television programme, animation programme and video games as British and to access the UK’s creative sector tax reliefs.

For further information visit the BFI website. 

For further advice on UK Tax Relief for production, follow the links to the British Film Commission’s website for: