On the 5th of August, the UK Government announced their newest scheme set to give a boost to the live events sector, in supporting planning and confidence into the next year. The Government has pledged £750 million to the insurance scheme, to support the £70 billion event industry and 700,000 jobs including small businesses and self-employed.
Inevitably the devil will be in the detail (which is currently in development), but it is a big step forward for all types of live events, finally recognised directly by the Chancellor and HM Treasury himself, saying:
We have some of the best events in the world here in the UK – from world-famous festivals to your local fair. With this new insurance scheme, everything from live music in Margate to business events in Birmingham can go ahead with confidence, providing a boost to the economy and protecting livelihoods through our Plan for Jobs.
.. Birmingham events, hmm, we wonder if he’s talking about our Show CHS Birmingham and CHS Meetings and Events Industry Week?
Oliver Dowden, The Culture of Secretary commented saying:
Our events industries are not just vital for the economy and jobs; they put Britain on the map and, thanks to this extra support, will get people back to the experiences that make life worth living.
At CHS, we totally agree! Over the years of hosting our amazing Show, CHS Leeds and Independent Venue Roadshows, we have seen first-hand the amount of business events can generate within such a short timeframe. We are over the moon to be finally getting back on track, with an additional boost of confidence from the Government.
The scheme will be become available from September 2021 and run until the end of September 2022. It has widely been accepted for providing a little more confidence as our industry gets back onto its feet.
You can find out more about the insurance scheme here: https://www.gov.uk/government/news/government-backed-insurance-scheme-to-give-boost-to-events-industry