§ Mr. KINGasked the Chancellor of the Exchequer whether his attention has been called to frequent sales of valuable works of art which leave this country for foreign purchasers, and especially to a picture by 398 Rembrandt, sold to an American buyer for £50,000; whether he is aware that the value of such works of art has greatly appreciated in recent years; and whether, in order to retain such works of art in this country and in cases where they leave these shores to provide a financial compensation to the Exchequer, he will consider the imposition of a tax on sales of objects of artistic value exported to foreign lands?
§ Mr. LLOYD GEORGEI am aware of the circumstances alluded to by my hon. Friend. While agreeing that the matter is one of importance, I am not prepared to commit myself to the imposition of taxation, as suggested.
§ Mr. KINGWill the right hon. Gentleman read the speech of the President of the Royal Academy on the subject?