The UK Film & TV Production Restart Scheme has been extended by six months to support the entertainment industry in the wake of the coronavirus pandemic.
The scheme, which launched last year, has supported more than 400 productions, £2.3 billion of production spend, and 34,000 jobs to date.
Here’s everything you need to know.
What is the UK Film & TV Production Restart Scheme?
Almost all TV and film productions were forced to cease filming during the coronavirus pandemic.
But despite lockdown restrictions being lifted, a significant number of studios are unable to restart or commence production due to the lack of availability of insurance coverage for COVID-19 related risks.
To remedy this, the scheme provides compensation to applicants that incur losses during the course of producing eligible productions as a result of COVID-19 disruption, in respect of which they would “otherwise be unable to self-insure or access insurance or indemnity in the commercial market on commercially viable terms”.
What is changing?
The announcement means the initiative will now remain open for applications until 30 April 2022 and will provide cover for claims up to 30 June 2022.
The move is expected to protect an additional 34,500 jobs and around £1.2 billion of production spend.
To maintain value for money for the taxpayer, the scheme fee increased to 2.5 per cent from 01 November 2021.
Scheme giving “productions the confidence to keep rolling”
Commenting on the extension, The Chancellor of the Exchequer, Rishi Sunak, said: “Our world-leading film and TV industry supports hundreds of thousands of jobs – that’s why it was so important we helped it to get up and running again as part of our Plan for Jobs.
“It’s great that by extending the Film & TV Production Restart Scheme we will give even more productions the confidence to keep rolling, supporting jobs across the UK and producing the film and TV we all love.”
Culture Secretary Nadine Dorries added: “Together the UK Global Screen Fund and UK Film & TV Production Restart Scheme are developing new opportunities in the sector and helping British talent and creativity to develop, grow and reach audiences around the world, whilst protecting and supporting our brilliant producers and screen businesses across the whole country.”
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