§ Mr. Fauldsasked the Chancellor of the Exchequer what steps he will take to end discrimination against the British buyer of contemporary and other works of art, in view of the fiscal advantage accruing to overseas buyers under present value added tax proposals.
§ Mr. HigginsVAT is in essence a tax on consumer expenditure in the domestic economy, and exported goods, including works of art, are relieved of the tax, under the British VAT as in all other countries' VAT systems.