Coalition promises $60m fund for mid-range films

Shadow Minister for the Arts Steven Ciobo announced a $60m temporary film production fund to encourage distributor investment in mid-range films, as part of the Coalition’s electoral platform.

“It’s crucial to helping the film industry, which is a proud industry. This proposal has the backing of the Screen Producers Association of Australia and will provide additional support and jobs to the film sector,” he said.

Ciobo explained that, if elected, the Abbott Government – “firm believers in the arts sector” – would establish the $60m loan fund, matching the financial commitments made by film distributors, with loans ranging from $2-10m for films with $7-30m budgets.

The loans would be recouped by the Government “in line with the industry’s standard recoupment schedule”, with fund and distributor recouping their advances “side by side”