The Treasury Minister is hoping Tynwald will get behind plans to invest £24 million in the Pinewood Film Studios.
The issue will be up for debate in Tynwald, which gets underway this morning.
It heralds a radical shake up to the Island’s film industry and if moved forward would see Pinewood responsible for the media development fund, both advising and sourcing new film opportunities.
This responsibility would fall with the studio giants for the next 5 years; as a consequence CinemaNX would cease to exist.
The money would come from Government’s reserves.
Minister Teare told 3FM that he hopes his fellow members will get behind the proposed expenditure.
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