Take it away, a new initiative from the Arts Council that aims to make musical instruments and tuition more affordable for aspiring musicians, especially younger people and those on lower incomes, has recently been launched across England.

The scheme allows individuals to apply for a loan of up to £2,000 for the purchase of any kind of musical instrument, and pay it back in nine monthly instalments, completely interest free. Following a successful six month pilot in the South East, Take it away loans are now available through a network of over 75 musical instrument retailers across England.

All instruments are included in the scheme and, to help musical development and manage costs, equipment and services such as amplifiers, sheet music and tuition can be included within the loan where available.

Take it away is open to UK residents over the age of 18, although a parent or guardian could use the scheme to buy an instrument for someone under 18 through one of the 75 retailers operating the scheme in England. It is also possible to use the scheme via mail order, so this might be an option for you if you are in Scotland, Wales or Northern Ireland, or if there isn't a participating retailer in your area. The scheme is only open to individuals so schools or organisations cannot use it for multiple purchases.

Further information and a list of the participating stores can be found at www.takeitaway.org.uk

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_{Notes to Editors:}

_{Research from ‘Attitudes to Music in the UK’, commissioned by the Music Industries Association, 2005.}

_{Further statistics:}

_{• Individuals playing musical instruments are most likely to be in white collar employment and within households earning over £40k}

_{• The survey found that just over a third (35%) of those with a university degree currently play a musical instrument, as opposed to only 15% of those players who did not receive tertiary education}

_{• The largest fall-off occurs at 11-16yrs with over 80% of players stopping by 16yrs – and over 90% having stopped by 21yrs}

_{• Of the total number of lapsed players who wanted to return to playing music – 59% were women}

_{1. Take it away is an Arts Council England initiative that offers an interest free loan (0% APR) between £100 and £2000 for people to buy musical instruments, supporting musical equipment and tuition, through a network of participating retailers across England.}

_{The loan is repayable in 10 parts, made up of a minimum 10 per cent deposit and nine monthly instalments.}

_{2. The Take it away scheme is operated by ArtCo Trading Ltd (a wholly owned subsidiary of Arts Council England) in conjunction with the Musical Instrument Finance Company (MIFCO). The scheme is being promoted by Arts Council England in partnership with the Music Industries Association (MIA).}

_{3. Arts Council England works to get great art to more people in more places. We develop and promote the arts across England, acting as an independent body at arm’s length from government. Between 2006 and 2008, we will invest £1.1 billion of public money from government and the National Lottery in supporting the arts. This is the bedrock of support for the arts in England. We believe that the arts have the power to change lives and communities, and to create opportunities for people throughout the country.}

_{For 2006 to 2008, Arts Council England has six priorities:
• Taking part in the arts
• Children and young people
• The creative economy
• Vibrant communities
• Internationalism
• Celebrating diversity}

_{About the MIA
The Music Industries Association (MIA) is the UK trade association of the musical products industry. Its mission is to strengthen its members’ businesses and further the interests of the industry by creating and encouraging music making.
• The MIA is passionate about promoting and supporting the playing of music
• Trusted and consulted as the UK authority on the musical product industry
• Dedicated to communicating all the positive aspects of playing music
• Inclusive and representative of all parts of the £750m UK musical instrument industry from your local music store to major multinational companies and brands
• Established for over 100 years with a track record of improving and supporting music education
www.mia.org.uk}

_{About MIFCO
The Musical Instrument Finance Company (MIFCO), the only dedicated musical finance company in Europe, provides a specialist service within Arbuthnot Latham, the private bank.
MIFCO is the only organisation in Europe to provide financing for the purchase and servicing of musical instruments to music retailers and associated businesses, educational establishments such as universities, conservatoires and schools, and also invests in young musicians through its Music Foundation. It was founded in January 2004, by Jonathan Thorne who joined Arbuthnot Latham as Managing Director of the new business division.
www.mifco.co.uk}