Chamber says Saskatchewan film tax cut kicked industry out at the knees
October 30, 2012 - 3:38 PM
REGINA - The Saskatchewan Chamber of Commerce says the provincial government missed the ball when it unceremoniously cut the Film Employment Tax Credit.
Chamber CEO Steve McLellan says the decision to cut the credit in the March budget kicked the industry out at the knees.
The chamber and Sask Film have released a study that looked at the cost of the program to the province.
The study found the government contributed $7.8 million for the program and got back $6.5 million in taxes — resulting in a net cost of $1.3 million for taxpayers.
But it found projects done under the program generated about $44.5 million in annual revenue for hotels, equipment rentals companies and those who work in the industry.
McLellan says he doesn't think the government had enough information to make a decision of this magnitude and if it had, he thinks the decision would have been different.
News from © The Canadian Press, 2012