Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

My Department carried out a thorough review of the film relief scheme during 2012. Such reviews are conducted regularly by my Department to ensure that particular schemes remain fit for purpose. The results of the film relief review were published on the Department’s website. As a result of this review, the scheme was overhauled in the Finance Act 2013 to bring it up to international standards. The main beneficiaries of the relief now will be film producers rather than passive investors as is currently the case. There would also be benefits for the State by way of increased revenues.

In my recent Budget Statement I gave notice of my intention to bring forward the proposed start date of the new scheme from 1 January 2016 to 1 January 2015. Assuming this Bill is enacted by the end of this year, the Deputy’s proposed amendment would require a full cost benefit analysis in mid-2015, namely, within the first six months of the introduction of the new scheme. The data on the new credit system which would be available at that stage would not be sufficient to produce an effective cost benefit analysis as it could only be based on the details of the films and film production credits approved by Revenue in the first six months of 2015. I cannot accept the Deputy’s amendment.

Following review of the scheme, wide-ranging amendments were introduced last year. These have been well received by the industry. It is because the industry sees the attractiveness of the scheme that it lobbied us to bring the date of implementation forward be one year. The amendments we made this year will allow productions by companies that our outside the European Union to shoot films in Ireland. The Taoiseach spoke some time ago with Steven Spielberg who expressed an interest in making films in Ireland. He would be interested in this. There is quite a degree of international conversation about this issue at this time. We will see how it works out. While a review will be undertaken in due course, it would be too early to do so on the date suggested by the Deputy.