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.
“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 Roberts.
The initiative took off in October 2020 and later expanded its scope to cover cast and crew over the age of 70, who were previously excluded from coverage.
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.
“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 Roberts.
The initiative took off in October 2020 and later expanded its scope to cover cast and crew over the age of 70, who were previously excluded from coverage.
- 3/3/2021
- by Naman Ramachandran
- Variety Film + TV
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