Yesterday, the Icelandic Film Makers Association (IFMA) voiced grave disappointment with the government’s decision to cut the budget to the Icelandic Film Fund by 42 per cent next year from what had been projected, vísir.is reports.
IFMA estimates that because of this, state income will decrease by ISK 615 million, resulting in the loss of one year’s work of roughly 200 people. Moreover, they claim that already in 2014 the state will be deprived of ISK 500 million in foreign currency.
In IFMA’s opinion, it is evident that building an industry under such fluctuating conditions is difficult and that once again Icelanders will lose many of its most skilled and talented people to well-paid projects in other countries.
In addition to these effects on the economy, IFMA pointed out the loss of cultural value in Iceland as the budget cuts mean that less material will be produced in Icelandic for Icelanders.