The Penthouse, Triq Manwel Dimech, Sliema
[email protected]
+356 7950 1630
Shop Cart Checkout

€137 Million Expenditure by Malta Film Commission

€137 Million Expenditure by Malta Film Commission
by
August 24, 2023
in NEWS Malta, Taxation
126

In a move to shed light on the utilization of taxpayer funds, three members of the Nationalist Party within the Permanent Committee on Public Accounts, along with the spokesperson for Historical Heritage, Arts, and Culture, have formally petitioned the Auditor General to conduct an investigation into the allocation of nearly €137 million by the Malta Film Commission to foreign companies. This financial disbursement occurred between September 2018 and August 2023.

The spotlight on this issue intensified after a recent report by the Times of Malta disclosed that the film and television industry in Malta had benefited from a substantial sum of €143 million in state aid over the past five years. The revelation has prompted concerns and questions regarding the prudent use of public funds.

Earlier, the Nationalist Party issued a statement citing figures published by the European Commission. These figures revealed that the Maltese Film Commission disbursed a total of €143,833,464 from public funds to various private entities within a five-year timeframe. Notably, of this amount, a significant €136,793,533 was directed to foreign beneficiaries.

The opposition party underscores that these substantial financial resources could have been directed towards a variety of alternative sectors. Among these possibilities are bolstering Maltese cultural initiatives and nurturing local talents to foster socio-economic growth.

In line with these concerns, the Nationalist Party emphasizes that the transparency and equitable allocation of public funds must be a priority. The party asserts that it is essential to ascertain that such financial outlays do not inadvertently disadvantage local endeavors in comparison to the support extended to foreign corporations.

In light of these developments, the Nationalist Party has formally requested the intervention of the National Audit Office (NAO). The scope of the requested investigation encompasses several key aspects. Among the pivotal areas to be scrutinized are the procedures employed by the Maltese Film Commission in reviewing documentation for payment authorization. The Nationalist Party seeks to determine whether these procedures align with principles of good governance. Additionally, the inquiry aims to identify the specific procedural framework utilized in the disbursement process. Crucially, the investigation will assess the extent and efficacy of scrutiny exercised by the Ministry of Tourism.

The pressing questions surrounding this issue warrant comprehensive examination to ensure accountability and optimal utilization of public funds. The Nationalist Party’s initiative aligns with the broader goal of fostering transparency, promoting responsible financial management, and ultimately safeguarding the interests of the Maltese populace.

FAQs

1. Why is the Nationalist Party concerned about the expenditure by the Malta Film Commission?
The Nationalist Party is concerned about the allocation of substantial public funds to foreign companies by the Malta Film Commission. This has raised questions about the equitable distribution of resources and the potential impact on local cultural initiatives and talents.

2. How much state aid has the film and television industry in Malta received in recent years?
According to a report by the Times of Malta, the film and television industry in Malta has received approximately €143 million in state aid over the course of the past five years.

3. What prompted the Nationalist Party to request an investigation by the Auditor General?
The Nationalist Party’s concern about the allocation of funds led them to formally request an investigation by the Auditor General to ensure transparency, good governance, and accountability in the disbursement process.

4. What specific aspects will the National Audit Office (NAO) investigation cover?
The NAO investigation will assess whether the Maltese Film Commission followed appropriate procedures in reviewing payment documentation. It will also examine the alignment of these procedures with principles of good governance and evaluate the efficacy of scrutiny conducted by the Ministry of Tourism.

5. How does the Nationalist Party propose the funds could have been better utilized?
The Nationalist Party suggests that the funds could have been directed towards strengthening Maltese culture and supporting local talents, thereby contributing to the growth of these sectors and the overall socio-economic development of Malta.

Share

I have over 10 years' experience proofreading and editing where spelling and grammar were paramount. This includes newspaper publication and designing advertisements. I personally write all my articles.This allows me to do in-depth research and provide premium content.

Recommended Posts