Money taken from next year's budget

MONTREAL — It’s good news and bad news for Canuck TV financing.

The government announced Thursday that it intends to reinstate half the C$25 million ($18 million) cut from the Canadian Television Fund, the key motor for financing homegrown production. But the money is being swiped from next year’s budget.

Industryites had lobbied hard against February’s cut and reacted positively to the news, but they would still like to see stable financing for the fund.

“This industry needs long-term, permanent solutions for funding in an efficient manner,” said Julia Keatley, chair of the Canadian Film and Television Production Assn. and executive producer of the CTV series “Cold Squad.” “We will continue the fight for more money for next year and we will formulate our own suggestions to improve the way Canadian shows are financed.”

The Canadian Televison Fund had estimated that a cut of $18 million would mean 60 fewer productions and a potential $60 million drop in production activity.

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