The Film and TV Production Restart Scheme aims to help to get TV and film productions that were halted or delayed by a lack of insurance back up and running. The intention is to give productions the confidence that they will be supported if future losses are incurred due to coronavirus (COVID-19).
The scheme is designed to fill the gap left by the lack of available insurance and cover coronavirus-related losses for cast member and crew illnesses and filming delays or disruptions caused by the ongoing struggles surrounding the virus.
The scheme has an overall budget of £500 million. Eligible productions will receive compensation for costs caused by coronavirus delays up to a value of 20% of the production budget, with abandonment of productions due to coronavirus to be covered up to 70% of the production budget. There will be a total cap of £5 million on claims per production.
The funding will be available to all UK film and television productions made by companies where at least half of the production budget is spent in the UK and is estimated to cover more than 70% of the film and TV production market to the end of the year.
The Culture Secretary Oliver Dowden said:
'Our screen industries are high growth, jobs creating and showcase the best of British creativity and innovation, and I'm pleased we can give them this jump-start to get the cameras rolling again on this £12 billion industry.'
The scheme is yet to open to applications Further details on the eligibility process and claims system will be provided imminently.