John Risley Calls Film Tax Credit ‘Nuts,’ Backs Government Changes
John Risley Calls Film Tax Credit 'Nuts,' Backs Government Changes Seafood baron John Risley, president of Clearwater Fine Foods Inc., says he's been watching the debate unfold "with dismay" as those opposed to the cut warned of "Armageddon" and a "tidal wave" of job losses. While many working in film have warned the changes will gut the industry, the head of think tank Atlantic Institute for Market Studies says there's been no independent analysis of whether the subsidy works. There are numbers being thrown left, right and centre. None of these are independent numbers," Marco Navarro Genie, the president of the Atlantic Institute for Market Studies. He said the film tax credit is essentially "free money." He also says productions can film here, but take advantage of other lower cost jurisdictions for pre and post production and still receive the Nova Scotia tax credit.