UK Autumn Budget – comment from AIM

London, 30th October 2024 Gee Davy, AIM’s interim CEO: “AIM commends the government’s actions to extend business rates reliefs for the hospitality sector. However, much more support is needed to alleviate the pressures on already super-squeezed independent labels and related music businesses. These homegrown businesses are the beating heart of music – the principal investors in emerging artists and the UK music sector’s key employers, putting out 80% of new releases and creating long-term sustainable creative careers. We urgently need a tax credit scheme for music creation, like that which has been so successful in supporting the UK film sector. This would drive growth in music communities across the length and breadth of the UK, keep options open for a diverse range of musicians, grow employment and investment in emerging music, and reinvigorate the UK’s position in the global music market.”