Seán Kyne (Galway West, Fine Gael)
Link to this: Individually | In context

Question 155: To ask the Minister for Finance if strong consideration can be given, in view of the recent measures announced in the UK Budget, to the introduction of new measures and the strengthening of existing ones to ensure Ireland maintains its competitive advantage in the film and TV industry over other competitors and in particular in extending tax relief to include not only film and TV production but also animation and gaming; and if he will make a statement on the matter. [16947/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

Section 481 film relief is one of the longest running sector specific tax reliefs and was first introduced in the Finance Act of 1987 to support the indigenous film sector. Finance Act 2011 provided for a further extension of the scheme to the end of 2015 to afford a medium term certainty to the industry, which exists in a competitive international environment. The scheme makes a positive contribution to the development and sustainability of the Irish film/screen industry which supports a significant number of jobs in the local economy and contributes to cultural tourism initiatives. In 2011 a total of 58 projects were approved for Section 481 funding with an eligible Irish spend of €114m. These 58 projects supported employment for crew, cast and extras of over 15,000 individuals and had the effect of maintaining and creating jobs in a very difficult climate, while at the same time producing a product that will help to sell Ireland abroad.

I have asked my Department to undertake a review later this year in order to inform future policy making in relation to the scheme. I do not intend to make any major adjustments to the scheme prior to the completion of this review.