REGINA – Saskatchewan’s NDP are pledging to restore the Film Tax Credit if elected.
On Wednesday NDP leader Cam Broten announced he would revive Saskatchewan’s film and television industry by renewing the credit, which was axed by the governing Sask. Party in 2012.
“This is an industry that delivered a huge sense of pride for Saskatchewan, and it also delivered jobs, economic activity, spin-off benefits and millions of dollars directly into the province’s coffers,” said Broten.
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“Today, I’m saying to Saskatchewan film workers all over the world, come home – and bring your friends with you.”
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The Sask. Party touted $8 million in savings when the cut was announced, but the NDP said Wednesday the Saskatchewan Chamber of Commerce said the true cost of the film tax credit was just over $1 million a year and the net economic benefit was $44.5 million.
Broten said on Wednesday that his film tax credit plan will be a 45 per cent labour-based refundable credit, plus an additional 15 per cent all-spend credit for non-labour costs incurred in Saskatchewan.
Broten added that payment schedules will ensure bridge funding and timely support is there for producers in job-creation mode.
The NDP says the proposed tax credit would give Saskatchewan a competitive edge against other Canadian destination for producers.