The Minister for the Arts, Heritage and the Gaeltacht, Heather Humphreys TD, has stated that the government have sent out a strong message that they value the arts with Budget 2015 and declared herself pleased with Minister for Finance, Michael Noonan’s intentions towards boosting the Film and TV sector in the coming years.
Her statement follows comments made by Noonan in which the Minister for Finance promises to closely monitor the new tax credit scheme from next year with a view to possibly increasing the €50 million cap on eligible expenditure in Budget 2016. Noonan also acknowledged in his speech that the film industry was very important to Irish culture and the economy.
Minister Humphreys’ said: The 2015 Budget sends a strong message that this Government values the arts, our heritage and the support of the Irish language. The positive allocation for my Department for 2015 will allow me to pursue a number of my priorities, including the commemorative programme and improving access to the arts.
She continued: I am particularly pleased that the Minister for Finance, Michael Noonan TD, has today signalled his intention to look at ways to further boost the film and TV sector. More than 5,000 people are employed in the Irish audio visual sector, which has gained a very strong reputation internationally in recent years. Increasing the €50 million cap for film tax relief would help to attract more international projects to Ireland and create hundreds of new jobs, and I look forward to pursuing this in more detail with Minister Noonan over the coming year.
A particularly pleasing aspect of Budget 2015 for Humphreys was the increase of the artist tax exemption by €10,000 from €40,000 to €50,000.
The Minister said: The increase in the threshold for the artists’ tax exemption from €40,000 to €50,000 is a clear recognition of the need to support artists. Artists are the bedrock of our culture and they continue to represent us at home and abroad with great distinction.
Other highlights in Budget 2015 for the Department of Arts, Heritage and the Gaeltacht include:
- €4 million package to roll out an integrated plan to commemorate 1916
- Funding for current expenditure has increased for the first time in six years
- Financial support for Ireland’s National Cultural Institutions has been protected, following several difficult years of cutbacks
Minister Noonan’s comments on the Film and Television industry can be read on IFTN
here.
