§ Mr. Fauldsasked the Chancellor of the Exchequer whether, bearing in mind recent sales by ecclesiastical and other bodies, he will give consideration to the possibility of proposing allowing to institutions possessing a charitable status a tax advantage if they sell objects to a public collection.
§ Mr. DellIt is difficult to see what form the suggested tax advantage could take. Charities are not liable to tax except in respect of any trading activities which they may undertake.
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§ Mr. Moneyasked the Chancellor of the Exchequer (1) whether he will consult with the Standing Commission on Museums and Galleries regarding the potential loss of works of art to Great Britain before bringing in proposals to introduce a wealth tax;
(2) whether he will consult with the National Art Collections Fund regarding the potential loss of works of art to Great Britain before bringing in proposals to introduce a wealth tax.
§ Dr. GilbertMy right hon. Friend has already announced that a Green Paper will be published in the summer so that, before the wealth tax is introduced, there can be a thorough public discussion about the form it should take. We shall be very pleased to hear from any individual who, or body which, in the light of that paper, considers that he has a point of view or an interest which should be taken into account.