Tuesday, 24 August 2021

Major Events Insurance Fund proposed by ACT


“The ACT Party is today proposing a Major Events Insurance Fund to ensure the industry can survive,” says ACT Leader David Seymour.

“The events industry, like many businesses, is facing turmoil thanks to COVID-19. They spend months preparing for major events, only for them to be cancelled at the last minute thanks to lockdowns.

“It’s not just the event organisers who lose out. It’s the hundreds of workers and subcontractors involved in a major event, and often thousands of ticket holders.

“The biggest loser is the public who miss out when events just don’t happen because organisers cannot risk losing everything in a few days if there’s a lockdown.

“ACT is proposing a $50 million Major Events Insurance Fund, so event organisers can go ahead and plan the events our communities’ value so much, without the fear of financial ruin.

“A similar fund has been set up in the UK and gives a security blanket to event organisers.

“The fund would be available to events that host 500 people or more. It would only be paid out if events are cancelled.

“The money would come from the Government’s COVID Fund and would be targeted spending, unlike cameras on fishing boats and school lunches which the Government is currently using it for.

“It will mean event organisers can go ahead and plan things for New Zealanders to enjoy when we’re not in lockdowns, because after the past two years, New Zealanders deserve to have things to look forward to.

“ACT will be here to make constructive criticisms where necessary and helpful suggestions where possible, while asking the questions New Zealanders need answered.”