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UK Film & TV Covid Restart Scheme Will Cost Gov’t Just $25M While Generating $2.8B For Economy, Report Says

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deadline.com

The UK’s Film & TV Production Restart Scheme (PRS) will end up costing the government just £20M ($25M) while generating more than £2.25B ($2.8B) for the nation’s economy, according to an independent report analyzing its success.

The final figures published in the report said the £500M PRS will end up paying out less than £50M to producers – under one-tenth of its initial value – who required insurance cover for Covid-19-related losses.

The scheme, which was administered by the BFI and private insurers, collected £35.6M via premiums. This means a government deficit of £19.6M when administration costs are taken into account, the report said.

At time of publication, the UK’s Department for Culture, Media and Sport hadn’t responded to our request for comment over how much of the £50M has been paid to producers.

Read more on deadline.com
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