The Government will today introduce special legislation to increase substantially the budget of the Irish Film Board, thereby securing its future.
The Minister for Arts, Heritage, Gaeltacht and the Islands, Ms Sile de Valera, will move the Irish Film Board (Amendment) Bill 2000 which will increase to u£80 million the amount the board can give to film production companies by way of loans and grants.
Under existing legislation, the aggregate of the board's capital outlay and liabilities is set at u£30 million. This figure was set in 1997 but the board has almost reached that limit.
The amendment will be moved by Ms de Valera in the Seanad today. A source said last night that without the amendment the film board would not be able to continue to give money to film companies. "This will secure its future."
The increase in the film board's aggregate outlay by £50 million reflects the recommendations of the Film Industry Strategic Review Group, chaired by Mr Ossie Kilkenny. He has subsequently been appointed chairman of the Irish Film Board.
The Minister will also announce today organisational and policy changes to allow the film board to take on an expanded role in co-ordinating the development of the film industry.
Ms de Valera will say that increased funding will allow the board to act as the principal driving force for the consolidation and expansion of the Irish film and independents' television production sector.
This year up to 22 film projects have been certified under the Government's tax relief scheme for film production. Applications for certification for a further five films are being processed.
The amount spent on these projects in Ireland will be over £71 million, compared to last year's £56.7 million.
The amending legislation will allow the board to cater for increased film production.