Culture one of Ireland’s ‘most important assets’

IRISH culture being recognised as one of our most important national assets and a major plus when promoting Ireland and its economy.

So said Martin Cullen, Minister for Arts, Sport and Tourism, in an end of year statement yesterday.

“Irish culture has come into focus this year as one of our most important national assets and selling points in building brand Ireland,” he said.

At the Global Irish Economic Forum held in Farmleigh in September there was “wide acknowledgement” of the importance of culture as a vehicle that could raise the country’s economic profile by making more people aware of that the nation has to provide internationally, he said.

“The global association of Ireland with creativity and imagination has the potential to support the Government’s Smart Economy strategy; reinforce the branding of Ireland as an innovation island; position the country as a global creative hub and an attractive destination for foreign direct investment with a flexible workforce and drive the dynamic growth area of cultural tourism,” he said.

The overall allocation in Budget 2010 for the arts, culture and film sectors works out at €166m.

Given the tougher times in which we live “overall funding for the arts is up 14% on 2005 levels”, he said.

In a basic sense “this is real, tangible investment in the real economy”, he said.

Amendments to the Section 481 tax incentive for Film and TV were approved by the European Commission and commenced in March 2009 and should help the film sector to develop further in the period ahead, he said.

The moves were welcomed by the Irish film and audiovisual sector with 20 Irish Film Board-supported features going in to production in 2009.

The minister noted also that the individual investor cap for those wishing to invest finance in film in Ireland increased to €50,000 per annum, up from €31,750 and there is now 100% relief on that investment.

Previously the relief was set at 80%.

During the year the Irish Film Board received almost €22m in 2009 while the artists’ tax exemption was also retained.

The minister added that Culture Ireland, which promotes Irish arts abroad, received over €4.5m in 2009 which allowed it to support more than 350 tours, events and projects in 50 countries worldwide.