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“Some people in the film industry are overstating the effect of the budget on New Zealand film-making according to Associate Minister of Finance, John Falloon. The minister says film producers who have opted to leave the country and go elsewhere because they say the industry has been crippled by budget measures are not recognising the reality of the situation. He says you cannot have an industry that is 120% subsidised and expect the taxpayer to continue funding this support indefinitely. Mr Falloon says the government has replaced the tax shelter no risk measures for investors with a grant plus other assistance which will give the film commission and the industry about $2.5 million to be used by film producers this year. He believes this amounts to exactly the same assistance the industry has had in the past while budget measures assures investors will have to have something at stake in the future rather than leaving the risk to the taxpayer.” –note with 1/4” master reel.
Recorded: [12/08/1990].