Between 1975 and 1982, Canadian movies surged in number from three productions in ’74 to seventy-seven in 1979. It was perhaps the most dramatic period of growth in the country’s movie history, and yet it has been largely dismissed, shamed or forgotten in the ensuing year. Stimulated by a one hundred per cent tax deduction made available to certified ‘Canadian’ productions, the Tax Shelter Boom remains one of the most misunderstood and wrongly maligned cultural episodes in Canadian history.

The fact is, Canadian movies spiked not only in number but creativity, entertainment value, popularity and sometimes daring. Genre movies, previously largely non-existent in Canada, sprung up like sprouts through the permafrost, and the way was paved for the great transformation of Canadian movies from a national duty to a coast-to-coast guilty pleasure. But the time has come to drop the guilty part. TAX SHELTER FOLLIES is, at last, a celebration of one of Canada’s richest pop cultural explosions.