German producers have welcomed a pledge by the new government to improve conditions for investing in local film and television production.
COLOGNE, Germany (The Hollywood Reporter) -- German producers have welcomed a pledge by the new government to improve conditions for investing in local film and television production.
The producers lobbying group Film20 praised plans by the new government to set up financial incentives for investors looking to bankroll German productions and for foreign producers aiming to shoot in Germany.
In the coalition agreement -- the list of policy pledges the incoming government published recently -- the cabinet, under Chancellor-to-be Angela Merkel, promises to introduce new legal structures "by July 1" to encourage investment in the German film industry.
"This was a very welcome surprise," said Film20 chairman, producer Stefan Arndt ("Goodbye, Lenin!"). "(This government) has made a clear, trendsetting decision in regards to German film and even set a date."
Ardnt added that Germany's film producers now have to work together to propose a working model that would "deliver as many jobs as possible."
"More subsidies aren't what's needed," Arndt explained. "What the (German film industry) needs is more investment."
Several proposals, from tax breaks for investments in German productions to a sale-and-leaseback model for international projects, are reportedly being discussed.