Potter weaves magic on film spending

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LONDON (Reuters) - Spending on film production in the UK was 840 million pounds in 2006, a rise of 48 percent on 2005, boosted by blockbusters including the next Harry Potter movie and "His Dark Materials: The Golden Compass".

Investment by international companies, mainly Hollywood studios, accounted for 570 million pounds of the total, the UK Film Council said on Monday.

They include "His Dark Materials", the big screen adaptation of Philip Pullman’s children’s bestseller directed by Chris Weitz, "Harry Potter & the Order of the Phoenix" and Paul Greengrass’s "The Bourne Ultimatum" starring Matt Damon.

British films accounted for 148 million pounds in 2006, a drop of 11 percent on 2005.

Among the largest home-grown productions were Joe Wright’s "Atonement", based on the novel by Ian McEwan, "The Magic Flute", directed by Kenneth Branagh and Steve Bendelack’s "Mr Bean’s Holiday" featuring Rowan Atkinson.

A further 123 million came from co-productions with British involvement, including "Closing the Ring", directed by Richard Attenborough.

"We are back in business with British filmmakers winning international awards, a crop of great British films produced (and) British talent and facilities in demand from filmmakers around the .....continued below

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He welcomed a new film tax credit that came into force in 2006, saying that it would maintain Britain’s competitiveness in the movie making world.