Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what steps he is taking to help companies in the creative industries facing cashflow problems due to large number of refund requests for cancelled entertainment due to the covid-19 outbreak.

We are aware of the issues created by refund requests for cancelled events due to the COVID-19 outbreak. The Government has put in place a number of financial measures to support businesses and organisations that have been impacted by the pandemic.

The Coronavirus Business Interruption Loan Scheme will now be interest free for twelve months, an extension from the initial announcement of six months. We have already introduced and announced an extension to the Business Interruption Loan Scheme, which is for small and medium-sized businesses. On Tuesday, the Chancellor expanded the amount that can be borrowed from £1.2 million to £5 million.

We are also deferring the next three months of VAT, a direct injection of £33 billion of cash to employers which means no business will pay any VAT in March, April or May; and they will have until the end of the financial year to repay those bills.