04/22/2015 15:26 EDT | Updated 06/22/2015 01:12 EDT

Nova Scotia film sector meets for third time with government to talk tax credit

HALIFAX - Representatives from Nova Scotia's film industry expressed optimism a compromise will be struck soon with the provincial government over proposed cuts to a $24 million tax credit.The group met for more than four hours with officials from the Finance Department on Wednesday. It was the third session of head-to-head talks in about a week.Screen Nova Scotia chairman Marc Almon said the latest talks were constructive, but he wouldn't release details of what was discussed.The group's vice-chairman Scott Simpson said he believes the sides are close to an agreement."We are confident we are moving forward, said Simpson. "There is a mutual desire to get it done quickly."Finance Minister Diana Whalen, who was not at Wednesday's meeting, said she understood that "good progress" was made.She said both sides are getting a better understanding of the respective positions."Progress is being made to bring us to a common ground," she said. "That's really where we want to go."The industry has said a move to reduce the tax credit to $6 million beginning July 1 will drive business away from the province, while the government says the current incentive is too rich for a province struggling with its finances.Whalen said both sides would continue talks on Thursday.