Despite some inevitable media frenzy surrounding the announcement of the Disney film Pirates of the Caribbean 5 being shot in Queensland there are many who are less than impressed by the incentives which the Federal and State Governments have offered to make this a reality.
Gene Tunny over at Queensland Economy Watch puts the issue in a nutshell when he says ” This is an example of the selective industry assistance most of us have come to accept is bad in other sectors.” Mark Beat at Loose Change is equally unimpressed and points out that “both Joe Hockey and Tim Nicholls are seeking further cuts or asset sales to deal with their budget emergencies” and yet still seem to find the money when the bright lights of Tinseltown beckon.
This is no doubt that any extra jobs the film will generate will be short-lived. They will come at a huge expense (about $22m) that can never be justified from an economic standpoint; this is essentially subsidising an already highly profitable (largely foreign owned) corporation.
On the other hand; it means Johnny Depp’s coming to town!