Canadian Film Industry Needs Federal Tax Incentives To Be Above 20% To Compete

The Canadian film industry in British Columbia is a sinking ship caused by Covid, CW's Arrowverse ending, new BC provincial credits not matching union wage increases after the strikes, the streaming wars ending, high prices of living, UK film industry's incentives, and now Donald Trump's tariff plans to revitalize the American film industry.

Here is a list of the problems, and while the ultimate solution is due to be determined, the Canadian federal government needs to start getting involved. This was written thanks to several industry sources who gave their input and advice.

Covid- Before Covid hit the Vancouver film industry was at over sixty productions at its highest peak. They are currently at under ten and insiders have conflicting views on whether it will pick up during the upcoming summer months.

Union Wage Hike And New BC Provincial Tax Credits- The Unions after the strike were able to get a 5.5% wage increase which means the new provincial tax credits of 5% won't cover that meaning nothing technically was really gained.

High Price Of Living- The Last Of Us is just one example of a show that may leave Vancouver with soaring prices on gas, food and hotels for crew. Last Of Us is a zombie show shot fifty minutes outside Vancouver in Minaty Bay which increased these costs. Obtaining credits for these items could help prevent budgets from exceeding their limits.

UK Film Industry & Unions- The London film industry is booming with the currently filming or upcoming Avengers films, Harry Potter series, Spiderman 4, The Beatles four films, House of Dragon, Masters Of The Universe, Star Wars, The Agency, Enola Homes, Rings of Power, Embankment, and Narnia.

The UK film industry's main drawing power is better incentives with 34% of production credits and 39% of visual effects credits of production costs. There are also fewer unions so productions can get away with more savings.

Donald Trump's Tariffs- Trump's plan to keep runaway productions from leaving the USA, mainly California, by putting tariffs on films shot elsewhere and imported in. Whether this will have an impact or just another bluff by the President is unknown as of now, but may scare off producers from leaving California or Georgia.

Canadian Federal Tax Incentive Is Needed- Sources say a federal tax incentive above 20% could stop the bleeding as there needs to be something done fast. New Canadian Prime Minister Mark Carney has pledged to give more money to CBC but hasn't commented on the film industry's plight.

There are a lot of ideas people are throwing around but let's hear from you. What do you think is needed to save the Canadian film industry? Comment below or on the Facebook and Instagram posts of this article.

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Source: Dan Lalonde

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