Speaking to ScreenDaily.com at the IBC convention in Amsterdam, the minister said: 'I would love to see private investment in film production applied with a longer term perspective.
'In Germany and other EU countries private funders view three
years as short term. In the UK that is considered long term'
The former leader of UK employers group the Confederation of British Industry suggested that there needed to be a change of perspective.
'If we could create an environment in which private investors are stimulated to stay in the game for longer - and in return that they could see more from their
investment - that would benefit UK production.'
Schemes such as the Enterprise Investment Scheme (EIS) had a vital part to play
in building an investment environment but were subject to misuse, he warned.
'For every company or production that benefits hugely from the EIS nine
others pile in, to legally, but nethertheless, to exploit the situation.
'The EIS is a fabulous scheme to encourage entrepreneurial risk but if the
Chancellor sees it being taken advantage of and not use for the purpose
for which it was created there's a danger it will be stopped. The effect
of that is, sadly, to penalize the few productions which really need it.'
A strong film and television business has become a bigger issue for government and is now one of the most important employers and attracts substantial inward investment.
The creative economy is 'staggeringly important to UK
industry,' said the minister.
'The UK continues to take a lead in content creativity, broadcast
standards and technological advance.'