We’re delighted to see the UK Government has confirmed £500m of funding to kick start UK film and television production.
The fund will essentially provide financial protection for production companies to cover the effects of COVID-19 related costs in the event of cancellation, postponement or abandonment of a production, cover which is not currently available in the UK insurance market and had been holding back many projects.
Yutree’s Director and media specialist Simon Miller has been involved in the discussions with DCMS and Treasury in talks facilitated by BIBA so we are proud to have played some small part in the initiative which of course has a wider benefit to the sector including freelancers, camera facilities and post-production companies.
The scheme is anticipated to cover up to 70% of the production costs and we’ll circulate more detail once known. Please click here to read the Government’s latest press release.
For more information please contact Simon Miller on 01638 675993.