UK Music Chief Calls on Chancellor to Extend VAT Cut to Ensure Music Industry is Not Left Behind
OFFICIAL PRESS RELEASE
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Reacting to Chancellor Rishi Sunak’s summer statement today, UK Music Acting CEO Tom Kiehl said:
“The music industry is in crisis and we need VAT exemptions, which would be a lifeline for the thousands who work in the music industry.
“We will continue to push the Chancellor and the Government to extend the support for the self-employed. There is still no clear timeline for when live music can reopen, yet the furlough scheme will start tapering to an end within days.
“While other sectors are gradually reopening, large parts of the music industry are forced to remain closed. We need a continued package of employment support and help to ensure businesses have easier access to loans and other forms of finance.
“As the #LetTheMusicPlay campaign has shown, there is massive support for our world-leading music industry, which sustains 190,000 jobs and contributes £5.2bn to the UK economy. But we urgently need more Government support until the music business can get back fully on its feet.
“The Government’s £1.57bn support package that was announced on Sunday is welcome. However, we need to see the details of how that funding will be divided to ensure no part of the industry is left behind.”
Source UK Music
July 8, 2020 10:05am ET by Pressparty