IMPALA, the Independent Music Companies Association, has reiterated its call for an ambitious five-year recovery strategy for the sector.
At the end of April, IMPALA outlined a proposed ten-step Recovery Roadmap focusing on boosting investment, growth and jobs in Europe’s cultural and creative industries.
EU’s ministers of culture are due to meet tomorrow (20 May) to discuss the impact of COVID-19 on cultural and creative sectors.
Helen Smith, executive chair, IMPALA, said: ‘Ahead of tomorrow’s meeting, we are highlighting key steps which can be taken quickly by member states with a short-term impact on the livelihood of creators and sustainability of small and medium businesses.’
Proposed steps include:
- Boosting loans for small and medium businesses
- Reduced VAT
- Adopting national tax credit schemes
- Implementing the EU copyright directive
Helen Smith concluded: ‘Now is the time for a swift and massive recovery package specific to music and culture. Our roadmap is a good place to start, as well as co-ordinating de-confinement strategies which also will play a key factor in recovery. Music's contribution to Europe's economy and of course our citizens' wellbeing is vital. It underlines the need for a strategic approach at EU and national level.’