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UK gov’t extends production restart scheme
The UK government has extended its Film & TV Production Restart Scheme, for productions struggling to get insurance for risks related to Covid-19, by six months.
The £500m (US$678m) scheme was set up last July to help UK productions unable to obtain insurance for coronavirus-related risks get back up and running and to support them if future losses are incurred due to Covid-19.
The scheme was initially accepting claims for losses incurred up until June 30, 2021, but has now been extended to December 31. The extension was announced by chancellor Rishi Sunak in his Spring Budget statement yesterday.
Updated: March 3, 2021, 4:23 pm
Music industry bosses say a Government-backed insurance scheme is needed (Ben Birchall/PA)
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The chief executive of UK Music has said he is “disappointed” a Government-backed insurance scheme for the music industry was not included in the Budget.
Jamie Njoku-Goodwin welcomed measures that were unveiled by Chancellor Rishi Sunak on Wednesday such as the extension of furlough, additional support for the self-employed and the VAT cut on ticket sales.
U.K. Extends COVID Insurance Scheme for Film and TV Industry, Renews Furlough
Naman Ramachandran, provided by
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U.K. Chancellor of the Exchequer Rishi Sunak has extended the successful COVID insurance scheme from April through to the end of December as part of his annual budget, which was announced Wednesday.
Known as the Film and TV Production Restart Scheme, the groundbreaking £500 million ($698 million) fund assures productions that they’ll receive financial support in case of COVID-related losses. The program has so far accepted 200 qualifying productions, and saved thousands of jobs.
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“The government’s Film & TV Production Restart Scheme has already supported more than 200 productions to get back up and running, generating more than 24,000 jobs and helping the industry to generate a significant £1.19 billion [$1.65 billion] uplift in spend in the final months of last year,” said British Film Institute chief executive Ben Rober