Asked by: Maria Eagle (Labour - Liverpool Garston)
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Digital, Culture, Media and Sport, what assessment his Department has made of the contribution of the live events industry to the UK economy.
Answered by Caroline Dinenage
In 2018, the leisure events industry contributed £39 billion to the UK economy and the GVA contribution was £30.4 billion. This includes arts and cultural events, music events and festivals, and sporting and recreational events.
We appreciate the important role that the live events sector plays in the UK’s economy.
Asked by: Maria Eagle (Labour - Liverpool Garston)
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Digital, Culture, Media and Sport, what steps his Department is taking to support the live events industry; and if he will make a statement.
Answered by Caroline Dinenage
We appreciate the important role that the live events sector plays in the UK’s economy, and that the Covid-19 pandemic presents a significant challenge to the sector.
The Chancellor has announced the Winter Economy Plan to protect jobs and support businesses over the coming months, once the existing Self-Employment Income Support Scheme and Coronavirus Job Retention Scheme come to end. From November, the Jobs Support Scheme will provide further support to returning workers, while the extended Self-Employed Income Support Scheme will aid the self-employed who are currently actively trading but are facing reduced demand.
We are also offering businesses who face a drop in demand for their services and possible cash flow issues generous terms for the repayment of deferred taxes and government-backed loans, and are extending the application window of the government-backed loan schemes and continuing reduced VAT (from 20% to 5%) on concert tickets to March 2021.
We will give all businesses that borrowed under the Bounce Back Loan Scheme the option to repay their loan over a period of up to ten years. This will reduce their average monthly repayments on the loan by almost half. We also intend to allow CBILS lenders to extend the term of a loan up to ten years, providing additional flexibility for UK-based SMEs who may otherwise be unable to repay their loans.
In addition, the Secretary of State provided a major £1.57 billion support package for key cultural organisations to help them through the coronavirus pandemic. This support package will benefit the live events sector by providing support to venues and many other cultural organisations to stay open and continue operating.
Sport England have announced a £195 million package of support to help community clubs through this crisis. It recently boosted its Community Emergency Fund by a further £15 million to meet the demand, taking the total package up to £210 million.
We recognise that the live events industry and its supply chain has been severely impacted by Covid-19. We continue to meet with the stakeholders to discuss the specific issues facing the industry.
Asked by: Maria Eagle (Labour - Liverpool Garston)
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Digital, Culture, Media and Sport, what recent discussions he has had with the Chancellor of the Exchequer on financial support for the live events industry.
Answered by Caroline Dinenage
We appreciate the important role that the live events sector plays in the UK’s economy, and that the Covid-19 pandemic presents a significant challenge to the sector.
The Chancellor has announced the Winter Economy Plan to protect jobs and support businesses over the coming months, once the existing Self-Employment Income Support Scheme and Coronavirus Job Retention Scheme come to end. From November, the Jobs Support Scheme will provide further support to returning workers, while the extended Self-Employed Income Support Scheme will aid the self-employed who are currently actively trading but are facing reduced demand.
We are also offering businesses who face a drop in demand for their services and possible cash flow issues generous terms for the repayment of deferred taxes and government-backed loans, and are extending the application window of the government-backed loan schemes and continuing reduced VAT (from 20% to 5%) on concert tickets to March 2021.
We will give all businesses that borrowed under the Bounce Back Loan Scheme the option to repay their loan over a period of up to ten years. This will reduce their average monthly repayments on the loan by almost half. We also intend to allow CBILS lenders to extend the term of a loan up to ten years, providing additional flexibility for UK-based SMEs who may otherwise be unable to repay their loans.
In addition, the Secretary of State provided a major £1.57 billion support package for key cultural organisations to help them through the coronavirus pandemic. This support package will benefit the live events sector by providing support to venues and many other cultural organisations to stay open and continue operating.
Sport England have announced a £195 million package of support to help community clubs through this crisis. It recently boosted its Community Emergency Fund by a further £15 million to meet the demand, taking the total package up to £210 million.
We recognise that the live events industry and its supply chain has been severely impacted by Covid-19. We continue to meet with the stakeholders to discuss the specific issues facing the industry.