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More support for film and other creative industries

A new £500 million scheme to kickstart film and television production struggling to secure insurance for COVID-related costs has been launched. This scheme will help TV and film productions that have been halted or delayed by a lack of insurance to get back up and running. The funding will be available to all productions made by companies where at least half of the production budget is spent in the UK and is estimated to cover more than 70% of the film and TV production market to the end of the year.

Last month, the government unveiled a new £1.57bn support package (known as the Culture Recovery Fund) to help protect the futures of venues including museums, galleries, theatres, independent cinemas, heritage sites and music venues.

More details of how organisations can apply for £880 million in grants as part of the £1.57 billion Culture Recovery Fund have also been announced. This fund offers financial support for cultural organisations that were financially stable before COVID-19 but are now at imminent risk of failure.

Source: HM Treasury Wed, 05 Aug 2020 05:00:00 +0100

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