Been thinking about this whole CEO abandoning ship thing, then I saw an article that said Saskatchewan is cutting it's film tax credit because it's too expensive. It costs the province $8 Million a year. Last year New Brunswick cut their's because it cost $4 Million a year.
Last year Nova Scotia's tax credit cost $22 Million.
$22,000,000.
And with the NDP needing money to throw at the dying paper industry, to help it limp along until workers are too old to work, this might be the place to find it.
Maybe someone saw the light and didn't want to be the one in the driver's seat when the bus crashed. And crash it will.
I don't want to fear monger (ed. Monger away!) but without the tax credit, this industry is, you know, done.
Originally designed to develop the industry, it has instead become relied on so much that local producers would not be able to finance projects. And foreign producers would just go to Vermont or whereever, that does have a tax credit. (ed. Whoa, you mean Tomm Selleck's not coming back?) Even DHX relies mightily on it to continue. Maybe Michael Donovan also saw the writing on the wall and that's why he's getting into the business of buying other businesses for overseas and merchandising revenue. (ed. Another cup of Yo Gabba Jabba Java, Joe?)
But let's not think the worst. Yet.
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