Industry welcomes 6 month extension to support scheme during pandemic
$50 million Temporary Interruption Fund is extended until June to assist screen sector.
The federal government is extending the $50 million Temporary Interruption Fund for a further 6 months until 30 June to help the screen sector during the COVID-19 pandemic.
Minister for Communications, Urban Infrastructure, Cities and the Arts, Paul Fletcher, said, “Since the launch of the TIF in August 2020, the Morrison Government has played a vital role in providing confidence to the sector that COVID-19 related roadblocks would not derail the production of quality Australian film and television.
“Seventy-seven applications for coverage have been approved under the TIF to date, with an average of 346 people employed and 162 businesses supported on each production.
“Through the Fund, the Morrison Government has allowed for productions to secure financing so that local casts and crews can continue to work, and business associated with these productions can continue to operate.
“Thankfully, because none of the projects covered were delayed by key personnel contracting COVID, the quantum in the fund remains at $50 million.
“The screen sector is a key driver of economic growth, and this kind of surety supports recovery and investment. Our continued support has allowed the Australian screen industry to keep thousands of people employed and continue to produce high quality local content.”
Screen Producers Australia CEO Matthew Deaner said, “We are extremely pleased with this decision from the Morrison Government. The TIF has been of substantial benefit to investment, employment and sustainability in the sector, and we are grateful for the strong support the Government has shown the sector through the creation and extension of the fund. The TIF has been instrumental in ensuring continuity of activity in the sector during the difficulties of the COVID-19 pandemic and the associated challenges in the financing market.
“Our advice to Government has been that the challenges arising from COVID-19 associated with the confidence in the market associated with the financing of Australian content are persistent and will continue. This means that the underlying market gaps which justified the creation of the TIF are still in place, and are likely to be for some time.
“The extension of the fund announced by Minister Fletcher today not only protects businesses and thousands of jobs but also ensures the pipeline of much-loved Australian content continues to flow, to the benefit of Australian and international audiences. This is a great result for Australian screen content, businesses, employment and audiences.”