Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

One in three UK music jobs wiped out by COVID, report says

2021 10 18T231330Z 2 LYNXMPEH9H17Y RTROPTP 4 HEALTH CORONAVIRUS BRITAIN MUSIC - Global Banking | Finance

By Marie-Louise Gumuchian

LONDON (Reuters) – The COVID-19 pandemic has wiped out one in three jobs in the UK music industry, a trade body said on Tuesday, as it called for government support to help the sector recover.

The number of jobs fell 35% to 128,000 in 2020 from 197,000 in 2019 as the pandemic shut down live events and forced studios to close their doors, UK Music said in its annual report.

Some 69,000 jobs were lost in a sector where three quarters of workers are self-employed and did not receive help from government support schemes, according to the “This Is Music 2021” report.

The music industry’s contribution to the UK economy fell 46% to 3.1 billion pounds ($4.26 billion) in 2020 from 5.8 billion pounds in 2019, the report added. Exports fell 23% to 2.3 billion pounds.

“The past 18 months have been exceptionally challenging for the UK music industry, with billions wiped off the value of the sector – but we are determined to look to the future and focus on recovery,” UK Music Chief Executive Jamie Njoku-Goodwin said.

UK Music called on the government to introduce tax incentives and employment-boosting measures, and to help musicians and crew deal with the paperwork and extra costs involved in touring mainland Europe after Brexit.

It said it also wants a permanent reduction in the value-added tax (VAT) rate on tickets and live music events, more funding and support for music exports as well as funding for music education and for the self-employed.

After imposing the first national lockdown in March 2020, the British government announced a 2-billion-pound culture recovery fund to help museums, cinemas, theatres, cinemas and arts venues.

Entertainment venues have since reopened and late summer festivals including the Reading and Leeds twin events resumed.

($1 = 0.7283 pounds)

(Reporting by Marie-Louise Gumuchian; Editing by Andrew Heavens)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post