The producer of upcoming Johnny Depp movie TULIP FEVER has closed down the production following the British Government's decision to close a tax loophole for investors.

Alison Owen decided to halt the film after discovering Chancellor GORDON BROWN planned to change the law, blaming some members of the film community for "exploiting" the benefits.

And now Owen - who has vowed to move out of the country if the decision is not reversed - is hoping that appeals by herself and her peers to allow current productions to be exempt from the changes will be granted.

Owen fears the film will be cancelled altogether if not.

She fumes, "If Tulip Fever goes down I will move to Los Angeles or New York - it's too difficult to make movies here.

"On 10 February we had a meeting for five-thirty to sign everything off, but I had a call at 10 o'clock saying this news had been posted on a government website.

"If we'd known 12 months ago, I would have structured the film a different way, but you cut your coat according to your cloth. The production can only continue if the Treasury change their mind, give us some transitional relief, or come up with another plan by the middle of the week".

26/02/2004 13:48