The Chancellor has announced action will be taken to protect the British TV and Film industry. A government-backed scheme will allow more than 160 productions to start filming again, saving nearly 20,000 jobs.
During the lockdown, most film and television production was stopped due to the non-existence of Covid virus-related insurance coverage. In a boost to the industry, the UK government has launched £500 million ‘Film and TV Production Restart Scheme’ to boost the industry.
In an interview, Chancellor Rishi Sunak said that this scheme would protect the Film and TV industry and help create jobs and boost the economy in general. Everyone from actors, directors, set designers, runners and make-up artists will benefit from the scheme.
However, there are eligibility criteria for the fund. Production firms need to show evidence that proves financial aid is essential for them to return to work. They need to follow the rules of the scheme and ensure a safe working environment.
Though this is a temporary measure to cover up the losses incurred due to Covid related delay and abnormalities, this will still be a significant boost. There will be a claim cap of £5 million for every production. Productions companies should mandatorily purchase insurance to ensure non-covid risks.
The registration for the scheme will be open till April 2021.