David Puttnam Warns of U.K. Inward Investment Moving to Other Countries if Skills Shortage Issue is Not Tackled
variety.comNaman Ramachandran In his last keynote address as U.K. Film Distributors’ Association president, veteran producer David Puttnam struck a sombre note highlighting a number of critical issues the country’s media industry is facing.
Addressing a rapt audience at the BAFTA headquarters in London on Tuesday, Puttnam identified skills shortage and lack of investment in skills as a “major crisis” hanging over the industry.
According to Puttnam’s calculations, a committed annual investment of £40 million ($50 million) in skills could result in production savings of well over £100 million ($125 million).
New data commissioned by Puttnam from accountancy firm Saffery Champness shows that underinvestment, leading to scarcity of talent, has resulted in significant wage inflation for mid-level production roles, with spikes of between 7-15% above the cost of living.
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