Local filmmakers believe the proposed changes to the production expenditure rebate programme will help T&T attract bigger-budget international films. Their optimism comes in the wake of Finance Minister Larry Howai’s announcement, in Monday’s budget presentation, that Government will increase the rebate from 15 to 20 per cent where local labour is used in the film, fashion and music sub-sectors of the creative industry.
Howai also said the cap for the rebate for international films would be increased from US$3 million to US$8 million. “We are moving to strengthen these efforts,” he explained. Film producer Lisa Wickham, who recently worked on two international productions that filmed on location in T&T, Girlfriends Getaway and Home Again, said any increase in the cap augurs well for the country.
“It means films with larger budgets would be attracted to T&T,” Wickham said. “And I don’t mean just in film, because more money will be invested not just on film in T&T, but the money spent on film permeates all sectors: police, carpenters, food services, medical services and other sectors of society.” Wickham said the rebate on local labour was something the industry had expected for a while.
“We knew this was happening and that it was being discussed and that of course is a good thing.” Director Danielle Dieffenthaller said she hoped the investment by Government would encourage private companies to invest in the film industry. “Hopefully, now companies might respond and invest in the sector so they can benefit and have less of a fear of risk than before.”
She said the raising of the rebate cap would especially be of help in relation to future films that come to T&T. “With this change, when films come here they will spend more money and higher quality films will come to T&T.” She said, however, the changes would not have a major impact on locally produced films.
