Former Tory leader Sir Iain Duncan Smith has warned the Government that big sporting and music events may not go ahead unless it supports organisers now.
Writing in The Telegraph, the Catholic MP warned that the future ‘looks pretty bleak’ for those who enjoy live events ‘because unless the Government takes action to address one of the critical problems faced by the organisers of such events, they will not go ahead’.
Sir Iain pointed out that the issue of cancellation insurance must be solved before the majority of such events can go ahead.
He explained that cancellation insurance is not available in the market ‘at anywhere approaching commercially viable levels’ due to the enormous risk of lockdowns or of restrictions on capacity.
In order to solve this, Sir Iain said the Government must urgently work with the industry on agreeing and settling such an insurance scheme.
‘Such a programme is not like the furlough scheme, it should be seen as an investment in the UK’s cultural assets, which does not have high setup costs associated with it,’ he wrote.
‘The clock is ticking for the events industry and if we want to take economic advantage of the vaccine success, we should be planning the insurance solution right now.’
Picture: Last weekend’s Carabao Cup final at Wembley Stadium featured the return of fans, as 8,000 attended the much-anticipated match, which saw Manchester City beat Tottenham Hotspur 1-0.