Chancellor will spend £1.6billion to rescue thousands of theatres and music venues facing closure due to Covid-19 crisis

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NEARLY £1.6 billion will be spent bailing out thousands of theatres and live music venues facing permanent closure due to the Covid-19 crisis.

The emergency cash will be available in the form of grants and loans to help them stay afloat while their doors are closed.

Rishi Sunak said the bailout would help theatres, music venues, independent cinemas, heritage sites, galleries and museums continue to employ the 700,000 people in the sector. 

But he also said it was important to help them as they were “the lifeblood of British culture”. 

The Chancellor said: “That’s why we’re giving them the vital cash they need to safeguard their survival, helping to protect jobs and ensuring that they can continue to provide the sights and sounds that Britain is famous for.”

The Government is unlikely to allow theatre performances, gigs or festivals until 2021. 

More than 350,000 people in the sector have been furloughed.

Money will be available to all performing arts, theatres, historic palaces, museums, galleries, live music venues and independent cinemas. 

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