The Foyle MP was speaking ahead of a debate in the House of Commons on the impact of COVID-19 on the Cultural and Entertainment sectors.
Mr Eastwood has demanded the Government do more for a sector vital to the economy across the North.
Commenting on the debate Mr Eastwood said: “It is time the British Government pulled their finger out.
“The damage their inaction is having on those in our creative sector is staggering.
“Our cultural and entertainment sector plays a huge part in our economy and will be needed in our post-pandemic recovery.
“Urgent investment is needed not the neglect that has become all too commonplace from the Tories.
“Musicians, writers, artists and many others in the sector are going to the wall.
“Their value can’t just be measured in pounds and pence they are a part of the cultural fabric of our society.
“We cannot allow under investment to cause many to shut up shop.”