Mr. Speaker, first of all, I would like to say that the Bloc Quebecois fully supports this legislation, and this includes the official critic, the hon. member for Rimouski-Témiscouata and all members of the Bloc.
We know that this proposal is the result of three years of discussions conducted by the Department of Communications, the Treasury Board, the Department of Finance and Telefilm. The process, which started under the Conservative government three years ago, has finally led to the tabling of a bill, and I want to congratulate the government on acting so promptly in this respect. We seldom hear good news from the government nowadays, but when we do, I think we should stress the fact, and I am delighted to salute this initiative on behalf of all my Bloc colleagues.
It was high time the government interrupted a bleak series of cutbacks that have been a burden on the cultural sector in Canada and decided to introduce a measure long awaited by the film community.
Between 1992 and 1998, the government would have cut about $100.5 million from its grants to a film industry in full expansion.
The measure before the House today is a godsend for the film industry which suffers from a glaring lack of capital funding. Good projects that never set off the ground because of lack of cash are legion.
A study by the Department of Canadian Heritage has revealed that today, letters of agreement between producers and distributors worth a total of between $70 and $100 million have not been signed because of lack of money.
Furthermore, many very interesting projects never get beyond the production stage because they are not judged to be commercially viable. This bill will fulfil its purpose if it also reminds Telefilm Canada of its original mandate, which is to support all Canadian cultural products, not just the commercial ones.
Like SOGIC in Quebec, Telefilm Canada should give equal treatment to commercial films and documentaries, television and cinema, as well as female and male filmmakers and producers.
If it achieves its twofold purpose, Bill C-31 will ease the plight of Quebec and Canadian producers who are waiting for the government to deliver on another measure that is essential to the survival of this industry, and I am referring to a tax credit that would replace the existing tax relief for depreciation.
A tax credit would directly benefit Canadian film and video production, unlike the present tax shelter. It is estimated that only 7 per cent of the cost of this tax measure is reinvested in Canadian productions as such. The tax credit would not require any additional investment.
Introduced in Quebec in 1990, the measure has been a real success story and truly serves the interests of the Quebec film industry.
In concluding, I again wish to congratulate the government on this very appropriate initiative, and as an incentive to keep up the good work, I would like to quote what was said a few weeks ago by Pierre DesRoches, outgoing president of Telefilm Canada: "A country that does not have what it takes, either intellectually or financially, to make a feature film does not deserve the name".
Finally, I would like to reiterate the support of Bloc members for this bill and express the hope that the bill will pass all three stages today, so that producers who have been waiting for years
will perhaps not see their dreams come true but at least have some way to get the money they need to start production.