MOVIES - Feb. 16, 1988

October’s global financial crisis has left Australia’s government-supported film industry in serious trouble, the Australian Film Commission said Monday. “The market crash has dramatically reduced liquidity in the industry and prices of films, television series and documentaries have fallen considerably,” the commission’s chief executive Kim Williams said. “The government’s tax incentive scheme for the industry has failed to attract enough investor interest, leaving the industry on the verge of collapse.” Williams said the government had been asked for at least $17.8 million (Australian) to keep the industry afloat pending a long-term solution.