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<p>We appreciate that the Covid-19 pandemic presents a significant challenge to the
live entertainment events sector. As you are aware, the Government has provided unprecedented
support for business and workers to protect them against the current economic emergency,
including the Coronavirus Job Retention Scheme (CJRS), the Self-Employed Income Support
Scheme (SEISS), the Bounceback Loan Scheme and business rates reliefs.</p><p><strong>
</strong></p><p>The Chancellor has announced the Winter Economy Plan to protect jobs
and support businesses over the coming months, once the existing SEISS and CJRS 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.</p><p><strong> </strong></p><p>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.</p><p><strong>
</strong></p><p>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.</p><p><strong>
</strong></p><p>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 events sector by providing support
to venues and many other organisations to stay open and continue operating.</p><p><strong>
</strong></p><p>We recognise that the live entertainment 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.</p><p> </p>
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