Iceland’s filmmakers have been left shocked by the news that the country is set to cut its national film fund budget by about 40 per cent. The plans, announced by the Icelandic government last week, would mean the film budget is cut from $8.42m to $5.17m as of next year.Iceland's population is a shade over 300,000, but it has;
The Directors Guild of Iceland, the Icelandic Film Makers Association and the Association of Icelandic Film Producers issued a joint statement about the reductions, claiming they would have a negative effect on the local economy.Who know the lingo;
They pointed out that a report in 2011 based on how film subsidies impact the economy found that public investment in local films led to a turnover return of five times the amount invested. They also estimated that the budget cut will mean around $5m will be lost in tax revenue in 2014.They have many broken windows in Iceland?