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Credit Where It’s Due: Why European Nations Are Doing Battle Over Tax Incentives
Projects like 'Gladiator II' & 'The White Lotus' have benefited hugely from rebates, which are becoming harder to live without.
Where once long ago, buyers could comfortably afford full tariffs, and once slightly more recently, deep-pocketed U.S. players would swoop in and complete the financing, today’s TV packages are super-complex patchwork quilts, which more often than ever require a hefty chunk of cash from a rebate. “We have seen the impact of [tax credits] on hit series and movies on regions — whether it is Game of Thrones in Belfast or Bridgerton, which was recently quoted as contributing £275 million to the U.K. economy,” says Lyndsay Duthie, who runs the Production Guild of Great Britain. In Italy, Giorgia Meloni’s right-wing regime immediately started questioning whether the credit had been too wasteful and said it would be reformed, which gave a fright to international and local producers seeking consistency in a nation that had just showed itself off to the world via HBO’s The White Lotus.
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