The extra [NZ]$20 million subsidy for The Hobbit will be paid as a tax break on a pool of profits to be shared by actors and other workers on the films, including director Sir Peter Jackson, it is understood. The Government has kept under wraps details of the extra cash incentive to Warner Bros, which comes on top of the 15 per cent subsidy worth about $65m on the budget for the two movies of about $670m. Prime Minister John Key said yesterday that commercial confidentiality meant he could not say what the money would go on. SourceThis is rancid politics. It's government pandering to the rich and glamorous with taxes paid by ordinary people. It's quite outrageous.
30 October 2010
Even little New Zealand feels it has to subsidise the rich: