Thank you, Mr. Speaker. The issue of film tax credit comes up from time to time and it was broached to me recently. The question was, quite simply: Why doesn’t the GNWT have one and present one to industry? It really came on the heels as a reminder that Arctic Air is booking its second season. My question to the Minister of Finance is: What type of process is involved in establishing a tax credit, such as film tax credit, that would help encourage industry to invest and do work here in the Northwest Territories? The process, Mr. Speaker.
Thank you, Mr. Hawkins. The Minister of Finance, Mr. Miltenberger.
Thank you, Mr. Speaker. We’d have to look at that specific subject. We’d have to look at other jurisdictions, many of which are, in fact, removing their tax credits, look at the pros and cons and then try to factor it in and bring it forward through a business planning and budgetary process. Thank you.
Has the Department of Finance ever examined something like this type of tax credit such as the example I’ve given, a film tax credit, and furthermore, what cost does it actually affect the Government of the Northwest Territories? I mean, are we talking about fifty cent dollars? Are we talking 75, 25? I’m trying to get a sense of an example of how much it costs and affects the government’s books. Thank you.
The Department of Finance, to my knowledge, having been the Minister going on four years, has not looked specifically in any detail at a film tax credit. Thank you.
My next question to the Minister of Finance is: Would he be willing to investigate the process and the potential cost of what it would be to, in this particular regard, what would it cost the GNWT to set up a potential film tax credit? That way we can have something for future discussion. Thank you.
I’ll commit to have discussions with the Minister of ITI, and we’ll look at what’s being recommended in terms of going forward. I’ll make sure that I have enough information about the mechanics of setting up a tax credit, so that if the Member raises the issue or wants to discuss it further, we’ll have that detail so we can have an informed discussion. Thank you.
Thank you, Mr. Miltenberger. Final, short supplementary, Mr. Hawkins.
Thanks, Mr. Speaker. I hate to say it but, for clarity, it just sounded like he was going to have a discussion about the process and maybe even just muse about the idea. Really, what I’m asking for is for the Department of Finance to investigate the costs, procedures and policies required. It doesn’t mean go write them. It just means go investigate the mechanics of creating one and how much it would cost us. That’s the type of discussion I’m just trying to get on the record. That’s all I’m asking. Would he be willing to do that so then we can have a full discussion when it comes to budget time next time around to say is this something we want to do, because if this is what it is, this is what it will cost? Thank you very much.
When it’s time to discuss and review the finance budget and business plan, we will be ready for a fulsome discussion on film tax credit. Thank you.
Thank you, Mr. Miltenberger. The honourable Member for Range Lake, Mr. Dolynny.
