Britain’s booming film industry has a growth lesson for Rishi Sunak

LONDON – Four new sound stages are sprouting up in fields about a half hour’s drive west of London’s Heathrow Airport, a rare bright spot for Britain’s ailing economy.

“Given the challenges faced by businesses in the wake of the pandemic, this level of industry growth is remarkable and one of the great British success stories,” said Ms Shevaun Haviland, director-general of the British Chambers of Commerce. The industry that created blockbusters, including Tom Cruise’s Mission Impossible series and Johnny Depp’s Pirates Of The Caribbean is set to add almost 2.7 million sq ft of sound stage space by 2025, according to research by Nordicity and Saffery Champness. That’s the equivalent space occupied by five stadiums the size of Wembley in north London.

The credit grants a 25 per cent discount on every £1 spent on production activities in Britain and has helped make the nation a magnet for big-budget media companies.

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