Italy’s film industry, renowned for past masters such as Federico Fellini and more recently for Paolo Sorrentino’s Oscar winning “The Great Beauty”, says its future is under threat from planned government cuts.
Rome’s draft 2026 budget presented last week by Prime Minister Giorgia Meloni’s right-wing government slashes $175 million support fund for the industry, with another 50-million-euro cut scheduled for 2027.
The move will affect the tax credit incentive fund, introduced 17 years ago to relaunch the then struggling sector, which allows producers to recover up to 40% of their investment costs.
“The cut is shaking up the entire industry,” Stefania Balduini, founder of the production company Pistacchio Film, told Reuters.
“Tax credits are a tool that exists in almost all European countries, and they are essential for financing projects. Fewer projects will be made, fewer crews will be working, and many will change jobs,” she said.
Italy’s film sector associations said in a joint statement that the government’s move “will cost thousands of jobs in a sector that is strategic for both the Italian economy and the country’s international image.”
Around 124 000 people are currently employed in Italy’s film industry, television and radio sectors, they said.
–Reuters–
