A BLOCKBUSTER movie about Mary Queen of Scots has been AXED because of the credit crunch, we can reveal.

The £30million flick was to star Hollywood beauty Scarlett Johansson and start filming in Scotland and Ireland later this year.

But last night director Phillip Noyce confirmed it had been given the CHOP - just like the tragic 16th-century monarch.

Noyce, 59, who was behind hit movies The Bone Collector and Clear And Present Danger, said: "Mary Queen of Scots was being financed by a company that essentially went broke. The film isn't happening."

The Aussie-born director had visited Scotland several times to scout locations for the historical drama, which Johansson, 24, signed up for last year.

First Minister Alex Salmond was a big supporter of the project and was to offer the use of Edinburgh Castle. But news of the movie's cancellation is a huge blow to Scotland's film industry.

It was hoped the flick would attract visitors to places like the Palace of Holyroodhouse, where Mary was wed in 1565.

The queen was beheaded in England in 1587, aged 42, on the orders of her cousin, Elizabeth I.

Celia Stevenson, Scottish Screen's director of inward investment, said: "We're very sorry to hear this. It's a tragedy when film projects are suspended.

"I am sure the movie would have been hugely popular but this financial climate proved to be too much for it.

"What I can say is the film will DEFINITELY be made at some point in the future."

The script for Mary Queen of Scots was put together by Jimmy McGovern, who wrote Cracker and The Street for TV.

The project was being financed by Capitol Films, which has offices in London and LA.

Last night a spokesman for the company refused to comment.

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