Plans to cut Made in NSW fund labelled a ‘disaster’ by Screen Producers Australia

Last King Of The Cross

Australian producers have labelled plans to cut state funding programs in New South Wales as a “disaster” for the local industry, as the country’s government looks to slash spending.

The Made in NSW Fund, the Post Digital and Visual Effects (PDV) Fund, and the Digital Games Development Rebate Program are all set to be affected, ahead of the NSW government unveiling its budget next week.

Producers of shows ranging from Stan’s Prosper and Amazon’s The Lost Flowers Of Alice Hart to Disney’s Thor: Love And Thunder and Paramount+’s Last King Of The Cross have been among companies to use the schemes, with the Made in NSW Fund totalling A$175m ($115m) over five years.

However, that funding – increased in 2020 – is now in doubt after the Australian Labor government said it needed to cut A$188m from the Department of Enterprise, Investment and Trade spending.

It blamed the move on the previous coalition administration, which it said had slashed the budget prior to the country’s elections in March.

Full details have not yet been revealed but local reports suggest existing Screen NSW deals will be honoured.

‘Disappointing short-term thinking’

Screen Producers Australia (SPA) CEO Matthew Deaner said: “This cut is a disaster for screen practitioners both here in NSW and beyond. It shows disappointing short-term thinking about the value of the screen industry.”

He continued: “To cut a fund that reportedly brings in A$20 for every dollar invested and creates thousands of jobs is hard to comprehend, especially when, after years of stagnation and setbacks, the sector had been so optimistic about its future prospects.”

The move also comes as Australia prepares to become the latest country to introduce local content quotas for international streamers such as Disney+, Netflix and Amazon Prime Video.

Deaner added: “With the Australian parliament on the verge of regulating the reinvestment in Australian content by streaming platforms, this action by the NSW Government will see this state missing out on the new investment and job opportunities available.

“While other states are actively opening doors for screen industry growth, NSW is slamming them shut. NSW cannot afford to be complacent and send such a strongly negative signal to the world as it is doing with these cuts.”