Most ironical circumstances of all is the position of the British industry. Seven out of the ten best films shown in 1998 were made in this country. Audiences are more eager than they have ever been before for British pictures. The Government has passed a new quota set to help: their production. But at the time of writing 80 per cent. of our studio floors are standing idle, many of our best actors and directors have accepted Hollywood contracts, and more than 8,000 technicians are out of work.
Let us be fair, the chief problem the British producer of films has to face is the one of finance. Next comes star value. No distributors in this country will do anything towards creation of new stars. They require stars ready made. Three years ago a great amount of money was put into flm production here by way of guarantees, without the necessary discrimination and without a proper basic plan.
In America you can't borrow money for the purpose of making pictures. You borrow it on the picture.. The City must alter its attitude towards film finance, revise its views and assist in one of the greatest means of spreading British trade and influence ever invented. Wilcox has a plan, in which the distributor is placed behind the producer and shares the risk with him, whilst the producer also shares in the profit. Intelligent and equitable ce-operation between distributors and producers will give the financiers greater security for the future.
Text read from the printed page and cleaned; old type leaves the occasional error.