Events Industry: Finance

(asked on 11th March 2021) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what assessment he has made of the potential merits of introducing re-opening grants for the live events sector.


Answered by
Caroline Dinenage Portrait
Caroline Dinenage
This question was answered on 19th March 2021

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 this sector.

That is why we announced the unprecedented £1.57bn Culture Recovery Fund in July 2020. This includes over £800 million to almost 3800 arts, culture and heritage organisations in England, helping to support at least 75,000 jobs. Additionally, the Chancellor announced in the 2021 Budget an additional £300 million to support theatres, museums and other cultural organisations in England through the Culture Recovery Fund. This extra funding, together with other cultural support such as funding for our national museums, means that our total support package for culture during the pandemic is now approaching £2 billion.

More generally, the Prime Minister has set out the Roadmap to reopening the Economy, and the Budget has set out a ‘Restart Grant’ of up to £18,000 to over 680,000 business premises, giving them the cash certainty they need to plan ahead and safely relaunch trading over the coming months. We are also providing all English local authorities with an additional £425 million of discretionary business grant funding, on top of the £1.6 billion already allocated. Altogether, this support will cost £5 billion. This brings the total cost of cash grants provided by the Government to £25 billion.

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