Theatre Tax Relief

Earl of Clancarty Excerpts

Thursday 9th March 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, the points that the noble Baroness makes are entirely those that we would want to consider in looking at the issue. She is absolutely right about the value and the costs when it comes to the production of these shows, which is why the tax relief is focused there. She is also right that they can bring huge economic benefit, including through exports, attracting visitors to the UK and productions going on the road. Those are the kinds of things that the DCMS and the Treasury will consider when looking at the tax relief.

[The Earl of Clancarty (CB)]

My Lords, there are concerns similar to those of the theatres in the visual arts sector concerning the museums and galleries exhibition tax relief. The Treasury and the noble Lord, Lord Parkinson, will be aware of this, having received the letter signed by many museums’ and galleries’ organisations which asks for that relief to be extended. It has been not just helpful, but vital to the sector, not only for the larger museums, but smaller galleries and emerging artists outside London. If the Government want to see this sector grow across the whole country, they should seriously consider maintaining this tax relief, and at the current level.

[Baroness Penn (Con)]

The noble Lord is right that the theatre tax relief is not the only cultural tax relief that we have. The Covid support that was put in place to extend the levels of that relief cover those areas as well. I know that my noble friend Lord Parkinson has been listening very carefully to the representations made by that sector and passing them on to the Treasury.