PN Requests Formal Investigation On Malta Film Commission’s Cash Rebate Scheme
Malta’s generous film rebate system has once again come under the spotlight after the latest of numbers show potential financial mismanagement.
The Nationalist Party is pushing for a formal investigation into the allocation of a staggering €137 million by the Malta Film Commission to beneficiaries that are companies registered outside Malta.
In a Facebook post from earlier today, PN MP and President of the Administrative Council of the Nationalist Party Graham Bencini shared a photo of himself alongside David Agius, Darren Carabott and Julie Zahra outside the National Audit Office.
According to the shared data, the Malta Film Commission had disbursed or obligated itself to disburse a total of €143.8 million in public funds over five years. Notably, a massive portion of this – €136.8 million – was awarded to foreign beneficiaries.
The Nationalist Party emphasises the importance of such public funding for Maltese entities that depend on it to bolster Maltese culture and support the development of local talent. The party alleges potential mismanagement of public funds, suggesting that there might be discriminatory practices against local entities in favor of foreign ones.
When viewed against the backdrop of the 2023 budget estimates, the allocations seem inconsistent. While the Malta Film Commission was allotted a global sum of €14 million, figures released by the European Commission indicate a much larger spend, creating a disparity.
However, this is not the first time the Malta Film Commission’s expenditures have been questioned. Earlier, the National Audit Office had pointed out an “extravagance in the use of public funds” by the commission.
In a previous context, it was highlighted that Malta had allocated around €143 million in public funds over the past five years to finance approximately 54 films and TV series. While the aim is to attract production companies to Malta, concerns have arisen regarding the real benefits Malta gains from such hefty rebates, especially when half of the budgets of international companies are spent outside of Malta.
Comparatively, while countries like Italy, Spain, France, and Greece have capped their film rebates, Malta’s spending, already exceeding the set budget by a considerable margin, is projected to grow even more.
Do you these substantial film cash rebates truly beneficial for Malta’s economy in the long term?