Rishi Sunak’s announcements on 24 September 2020, part 3

October 1, 2020

Read part 1 here

Read part 2 here

Well, actually, let’s consider a couple of industries that aren’t getting much help…

One sector that has been particularly hit is the events industry. It’s as though it’s somehow slipped through the semi-safety net. When you can’t have more than six people together in any one group it kills the conference industry, most birthday parties, company get-togethers, launches, networking meetings and a whole range of things catered for by the sector. Also, the VAT reduction can’t help businesses where revenue is zero or next to nothing.

Small music venues have been similarly hit – also with little sign of relief or government support. A recent statement from the musicians’ union said that a third of musicians in the UK are now considering other career paths. A further decline in this industry will have a knock-on effect not just on the music industry but on hospitality (including accommodation), retail, manufacturing and transport.

It’s difficult to predict how this will unfold positively for industries who have been unable to get the kind of support available to retail and hospitality. Right now, there seems to be no end in sight. I think a more imaginative, industry-specific approach is needed. I do wonder whether the help being provided, while welcome as it is, could have been shared out a bit better.

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