Oral Answers to Questions Debate
Full Debate: Read Full DebatePatrick Grady
Main Page: Patrick Grady (Scottish National Party - Glasgow North)Department Debates - View all Patrick Grady's debates with the Department for Digital, Culture, Media & Sport
(2 years, 11 months ago)
Commons ChamberI assure my hon. Friend that I will be working closely with the Chancellor to discuss the support required for the live events sector. The 5% rate on VAT for event tickets has been extended until 30 September 2021, when the 12.5% reduced rate will be introduced until March 2022. We have already provided £21 million to festivals and £2.5 million to grassroots music venues through the culture recovery fund, and our reinsurance scheme is designed to support the continuation of live events.
Has the Secretary of State any information on the take-up of that reinsurance scheme? Some promoters have said it is so inadequate, and covers such specific circumstances, that there is almost no point in taking it out. Was it always the Government’s intention to design a scheme in such a way that they could claim to be acting, while being safe in the knowledge that the scheme would not actually be used?
At this stage in my appointment, I am afraid I cannot give the hon. Gentleman an exact figure for the take-up, but I will write to him.