Heritage: V&A Purchase Grant Fund

Lord Myners Excerpts

Thursday 13th January 2011 Lords Chamber

[Baroness Rawlings]

My noble friend Lady Gardner is absolutely right that Mr Hintze has been remarkable in supporting the V&A and other institutions, and long may that continue. Philanthropic giving is something that the Secretary of State for Culture, Olympics, Media and Sport is pursuing with great vigour. Such giving is becoming more and more important, and I hope that he will look into it further.

[Lord Myners]

My Lords, in addition to the government purchase grant fund, another major source of new acquisitions for the V&A and other galleries is gifts that are allocated to them under the acceptance in lieu scheme in respect of inheritance tax. Is there any reason why this arrangement should be limited to inheritance tax? Could it not be extended to other forms of personal tax, with appropriate controls, including in particular the new tax on non-doms that the Government are currently considering?

[Baroness Rawlings]

My Lords, the noble Lord, Lord Myners, has for some time been pursuing this issue, which we are all very interested in. We know that the matter is under discussion and I hope that the Treasury will come to a decision that is favourable for the arts and museums very soon.