Creative PEC’s Response
Introduction
The creative industries are a significant part of the UK economy. Spanning sub-sectors from advertising and music, to design, film TV, and publishing, they generated an estimated £124.6bn in GVA in 2022 and accounted for 2.4 million jobs in the same year. They are also a major UK export, accounting for 14% of all service exports in 2021, with PEC research showing the UK’s comparative advantage in creative services compared to many other countries, including the USA, Australia, France and Germany.
Achieving the fastest economic growth in the G7 has been set as a mission by the UK Government, with the creative industries rightly identified as a priority sector for the government’s forthcoming industrial strategy. The creative industries will also be a critical sector in relation to the mission-driven approach being implemented by the Government more generally, including the ‘breaking down barriers to opportunity’ and ‘green energy’ missions, as we indicate in this representation.
This Autumn Budget is a time for the Government to begin to harness the wide-ranging opportunities the creative industries have to drive economic growth across the UK. In this Representation, we focus on three key areas where growth could be better supported for the creative industries: increasing R&D investment; growing regional creative economies; and boosting creative exports.
Citation
Please cite this document as: Creative Industries Policy and Evidence Centre (2025) Representation for the 2024 Autumn Budget. Creative PEC. doi:10.5281/zenodo.16902968.
Photo by Hadyn Cutler on Unsplash
