Osborne: 'May the force be with us' with Star Wars coup

Disney announced three new Star Wars films in October 2012, when it purchased George Lucas' Lucasfilm company for £2.7 billion.

The news was welcomed by Chancellor George Osborne who tweeted: "Great news for our creative industries. May the force be with us."

Star Wars: Episode VII, which is being made by director JJ Abrams, will further boost the British film industry that has been regenerated by the popular James Bond and Harry Potter film franchises.

The Star Wars franchise has grossed more than £2.9 billion at the worldwide box office since the first film was released in 1977. The latest instalment is scheduled to be released in 2015.

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Star Wars is a 'force' for UK jobs

Chancellor George Osborne has hailed a decision to film the new Star Wars movie in England as a major jobs boost for Britain's creative industries.