Liberal Vannin leader Kate Beecroft MHK is to give evidence to a Tynwald committee investigating losses written off by the island’s film fund.

The Public Accounts Committee is conducting an inquiry into the Media Development Fund following a Tynwald resolution in July last year.

It has been tasked to investigate whether further investigation is needed into events that caused the losses of over £26.8m from the Media Development Fund and to consider whether any changes to governance procedures are required.

Mrs Beecroft will give evidence to the committee this Friday (September 27), starting at 11am.

Up to May 8 last year, £20.6m has been written off on films made during the time CinemaNX was managing the Media Development Fund.

A further £6.19m was written off in the period when the fund was managed by Pinewood film advisors.

CinemaNX invested £39.7m in films between 2007 and 2012. But only £16.8m was recouped. More than £9m was lost on the Zac Efron film ’Me and Orson Welles’.

During the period Pinewood was in charge, £20m was invested but only £12.46m recouped.

Treasury sold its remaining shares in Pinewood in 2016, doubling its money on the investment.

The PAC will take evidence in the Legislative Council chamber.

Members of the public are welcome to attend.