Arts industry to receive $250 million coronavirus rescue package from Federal Government

Australia's arts sector will get access to $250 million worth of grants and loans under a COVID-19 recovery package unveiled by the Federal Government. Key points: Prime Minister Scott Morrison said the rescue package would help the arts industry re-build over the next year Guidelines about how the loan and grants will be distributed will be released in the coming weeks Greens Senator Sarah Hanson-Young say more still needs to be done Creative industries had been calling for more support after coronavirus shut down venues and productions and led to widespread job losses, with many workers ineligible for the JobKeeper wage subsidy. Loans will be delivered through commercial banks with a Commonwealth guarantee $50 million to help film and television producers who have been unable to access insurance due to COVID-19 to secure finance and restart production $35 million in direct financial assistance for Commonwealth-funded organisations which are struggling to stay viable, including theatre, dance, music and circus Mr Morrison said as well as the issues around financial help, the sector was struggling with the uncertainty around when restrictions in each state and territory, as well as border closures, would lift. Stay up-to-date on the coronavirus outbreak Download the ABC News app and subscribe to our range of news alerts for the latest on how the pandemic is impacting the world Package criticised as inadequate for a sector hit hard A ministerial taskforce will be set up to implement the package, with guidelines for the grants and loans to be released "in coming weeks".