Co-productions have struggled under the current tax credit system. The findings of the Oxford Economics report are borne out by figures from the UKFC. A UKFC spokesperson commented “The level of UK film co-production has dropped in the last part of this year with only four films going into production spending £4.2m. “In 2007, the number of UK co-productions dropped 44% to 28 from 53 in 2006, with spend down to $144m (£73.8m) from $219m (£112m).
Film – Financing and Tax Credits