In its Creative Nation report, the group claims that while the UK is ahead of the game globally as an exporter of creative products, it faces increasing competition in the future.
Creative industries, including film makers, video game developers and fashion designers, already make a vital contribution to the UK economy, accounting for £36 billion in Gross Value Added (GVA) and around 1.5 million jobs.
Jean-Benoit Berty, head of EY’s UK technology, media and telecommunications practice, said: “The creative industries are all too often overlooked when discussing economic affairs. In reality they make a significant contribution to the UK’s economy and it would be good to see the Government shining a bigger spotlight on this sector and giving it the attention it desires.
“EY research shows that the UK is in danger of slipping behind international rivals, like Germany, on economic indicators such as new project start-ups. Now is the time to act to ensure this dynamic sector is safeguarded in a high competitive, fast-moving global economy.”
The CBI wants the government to:
Push the European Commission to approve a tax credit for Britain’s videogames industry
Ensure creative companies have access to growth finance
Take action to protect intellectual property across the EU
Ensure the apprenticeships system is suitable for creative companies
Katja Hall, CBI chief policy director, said: “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.
“Artists like Adele and One Direction are renowned across the globe, and we believe the UK music industry has the potential to double its share of US album sales by 2025.
“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.”
Share this story