Letter: Where's the profit in funding film?

Sir: It is always encouraging to read of British success nurtured by grants ("British film-maker returns pounds 1m lottery grant as he hits jackpot at box office", 29 May) but one unanswered question is: what share of the profits is also received by the funding organisation for taking the risk?

By my calculations the British film industry, on a film cost of pounds 1.8m and a grant of pounds 980,000, should be receiving about 54 per cent of the profit. Are they? If not, then Gary Smith is right in his statement "The British film industry has always lacked financial discipline . . ."

JONATHAN YOUENS

Sidcup, Kent