Tuesday, May 11, 2010

A Changing Of The Guard

So, we finally have a Government again in the UK. What does it mean for our industry ?

Well, the biggest casualty will be universal broadband, which will remain a pipedream unless the LibDems push this on behalf of their very rural heartlands.

It's an extremely bad day for media in the 'nations and regions' I suspect, along with the local support infrastructures for film makers around the country.

OFCOM is gone, so what takes its place ? Regulation is going to be a great challenge for this Government.

Murdoch will be bolstered and will throw his weight around some more, no doubt. The BBC will become de-prioritised and continue on regardless, as will Google (although Cable might be clever enough to close their rabid tax avoidance). Indeed, it's a good day for Big Media and a very bad one for those of us who want to see a level playing field.

However, I suspect that the EU will have a field day. Cameron is a marked man in Brussels and it's not just the hedge fund industry that will be legislated against - it's likely that initiatives like Project Canvas will now find a new, political enemy with increased venom.

Likewise, Obama is on record as calling Cameron a 'lightweight', so the UK's voice on the international stage will be dimmed.

There's little doubt that funding companies will become very difficult - but there again, the extensive funds made available by the outgoing Government were useless since there was no private sector money to match it.

Perhaps the most hopeful elements of this new Government is the presence of some very wise old heads such as Ken Clarke and Vince Cable looking after the new kids on the block.

But, beware 1922....