A recently released report by Oxford Economics on the UK film industry found that for every 1GBP spent on rebates to film production, it generated 12GBP of GDP (Gross Domestic Product).

The UK recognises the value of the industry and have just raised their rebate to 25%, New Zealand currently still only offers 15%. The effectiveness of New Zealand remaining at 15% is easily measured by the amount of offshore productions coming here:

Excluding the recent pickups shooting on The Hobbit, the last time an offshore production was filming in New Zealand was October 2012.

Just as the same pair of jeans in two retail stores may cost different amounts, you as the consumer will go and buy the pair of jeans from the store you know you can get the best deal on. Why would film financiers do anything different?

In order to remain competitive and keep our filmmaking talent and world-class crews based here, New Zealand needs to offer a rebate in line with other countries such as the UK. Contrary to frequent misinformation from New Zealand media, this is not a grant or subsidy funded by the taxpayer. It is a rebate, also known as a refund or discount on money that would otherwise not have been spent here.

In order for New Zealand to have a film industry at all in the long term and to move to a self-sustaining model of filmmakers generating internationally appealing content of their own in the same way Peter Jackson has found success, we need the international work in the short term to exist for experienced crews and acting talent to remain in the country and earn a living.

As the current situation proves, this will not happen without a globally competitive rebate and also requires smart investment in allowing Kiwi content creators to reach an investment-ready stage with their commercial projects - this is also not currently possible through the mechanisms offered right now.

The impact of the film industry is felt across many other sectors such as timber, labouring, coffee, food supply, catering, vehicle rentals, accommodation, air travel, tourism and more. Without the attraction of international projects into New Zealand, they all suffer from the impact of that lost income.

We believe that New Zealand is the best place in the world to make movies and should be remaining globally competitive to attract international productions.

We also believe in more investment to allow the next generation of filmmakers like Peter Jackson to emerge. If you agree, please join us and sign this petition.

http://www.hollywoodreporter.com/news/british-tax-credit-film-industry-oxford-economics-370646