Lottery funding to increase to £43m per year in 2014.

At a speech in London this morning, UK Culture Minister Ed Vaizey confirmed industry speculation that Lottery Funding of film, tax credit certification, the MEDIA desk and other UK Film Council activities will now be part of “a new BFI.”

He also revealed that Lottery Funding of film will be increased from the current £27m per year to £43m per year by 2014. He noted there would be no gap in Lottery funding as UKFC responsibilities are transferred to the BFI.

Vaizey also announced plans for the existing regional screen agencies to be combined into the new umbrella Creative England, which will have concentrations in the North, Midlands and South.

Also, Film London will take on the UK’s inward investment activities (currently the office of the British Film Comissioner sits under the UKFC.) Film London will also take on export promotion.

More detail and analysis to follow later in