The UK Government have announced a new £500 million scheme to underwrite production insurance for domestic TV and films, as part of a package aimed at kick-starting the £12 billion industry.
To date independent production companies have been struggling to get cover for interruptions in filming caused by Covid. This will come as welcome news for many independents who have been desperate to restart shooting, but have been unable to do so due to a lack of available insurance.
As I commented on previously, the need for the Government to step with this type of scheme has been clear to those in the industry since lockdown began. Somewhat embarrassingly, the French Government announced as similar scheme in early May, which makes the UK's response seem rather sluggish.
This announcement is undoubtedly great news, but if Rishi Sunak, the Chancellor of the Exchequer, thinks "The UK’s film and TV industry is the envy of the world", it begs the question, why has it taken the Government so long to act?
The UK’s film and TV industry is the envy of the world, and it’s vital that productions get the help they need to restart as part of our plan to kickstart jobs following the lockdown Rishi Sunak, Chancellor of the Exchequer