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<p>We appreciate the important role that the events and music industries play in the
UK’s economy, and that the Covid-19 pandemic presents a significant challenge to these
sectors.</p><p>We have not made any assessments around the development of a specific
job support scheme for the live events supply chain. As you are aware, the Chancellor
has announced the Winter Economy Plan to protect jobs and support businesses over
the coming months, once the existing Self-Employment Income Support Scheme and Coronavirus
Job Retention Scheme 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>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. 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>In addition, the Secretary of State announced an unprecedented
£1.57 billion support package for the cultural sector which will benefit the live
music sector by providing support to music venues and many other cultural organisations
to stay open and continue operating.</p><p>We continue to engage with the sector to
discuss the on-going challenges facing the industry.</p><p> </p>
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