Producers have labelled the NSW Government's decision to proceed with $60 million worth of cuts to the state's screen funding programs, impacting the Made In NSW fund and the Post, Digital and Visual Effects Rebate, as "reckless" and "nothing short of a disaster".
Global visual effects giant DNEG, which recently opened a Sydney studio, has called on the NSW Government to reconsider proposed cuts to its screen funding programs, arguing it will have a "devastating" impact on the state's ability to attract production, stymie business and job growth, and ultimately result in talent leaving the state.
The NSW Government has signalled it will make cuts to screen funding in next week's state budget, including the Made in NSW fund, the Post, Digital and Visual Effects rebate and the Digital Games Development Rebate Program.