John O'Donoghue (Kerry South, Fianna Fail)

I warmly welcome the announcement by the Minister for Finance that the amount that can be raised under the section 481 scheme is to be increased from €15 million to €35 million, and that a new limit of 80% of the total production cost will replace the existing limits of 55% and 66%. This will do much to restore Ireland's competitiveness in the international marketplace, particularly for medium to large-scale projects. I support the scheme, as it is critical to the future of Irish film-making. The extension of the scheme beyond 2008 is a matter in the first instance for the Minister for Finance. The changes proposed require the agreement of the European Commission.

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