Vol. 463 No. 2
59 Mr. Callely asked the Minister for Arts, Culture and the Gaeltacht the total investment in the film industry in Ireland in 1995; the amount invested under section 35 of the Finance Act 1987 as amended; the benefits/refunds due to investors under section 35 of that Act; and if he will make a statement on the matter. [5827/96]
It is not, at this stage, possible to state the total investment in the film industry in 1995. The Audiovisual Production Federation of IBEC provides an economic database on all film and television production in the State, and reports for 1993 and 1994 are available. However the annual IBEC report for 1995 will not be available until the second half of this year when all of the information will have been obtained from the various production companies and compiled by IBEC.
During 1995, I certified a total of 49 film and television projects under section 35 of the Finance Act, 1987, as amended. The total of the budgets of these projects was £128.5 million and the certificates allowed for a total of £72.9 million to be raised under section 35.
The estimated benefits-refunds by way of tax relief due to investors under section 35 in respect of these investments, assuming all the projects go ahead, amounts to some £32 million. It should be noted, however, that in many cases there is a significant lag between the issue of a certificate and the claiming of tax relief on foot of that certificate, and that some projects may not proceed to production.
