Cracking tax break, Gromit

Animation firms have forecast that Budget tax breaks could give Britain's creative industries a boost of nearly £700m a year.

Industry figures said the move will halt an exodus of work overseas and encourage big players such as HBO to invest. George Osborne said he wanted to ensure that dramas did not have to be made abroad.

"It is the determined policy of this government to keep Wallace and Gromit exactly where they are," he added, a reference to how Aardman had threatened to go to Germany if tax credits were not introduced.