Screen Producers Australia (SPA) today warmly welcomed the Federal Government’s announcement that the Temporary Interruption Fund (TIF) for screen productions will be extended for a further 6 months until 30 June 2022.
The announcement reflects the continuation of difficulties in accessing screen production insurance due to the coronavirus pandemic and provides much-needed support for screen businesses as they strive to keep cameras rolling and thousands of Australians in jobs.
SPA 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.”