§ Mr. Peter AinsworthTo ask the Secretary of State for Trade and Industry if he will make a statement on the effect on the London art market of introducing Droit de Suite. [95133]
§ Dr. Howells[holding answer 25 October 1999]: An independent assessment of the potential risk carried out earlier this year concluded that, business could be lost to markets where droit de suite is not applied and that, by 2005, sales of works covered by droit de suite could fall by as much as 78 per cent., from £280 million to £61 million, resulting in lost earnings of £57 million per annum; and total sales could fall by £750 million or 23 per cent. (due to vendors unwillingness to spilt lots), putting many jobs at risk.