§ Mr. Gregoryasked the Chancellor of the exchequer if he will consider encouraging greater private investment in the theatre by enabling investors to offset income tax or capital gains tax liabilities arising from an investment of £5,000 per individual, provided that such an investment was in a live production which is open to the public; what would be the estimated cost to the Exchequer, less the income tax which the Treasury receives from investors who make profits out of successful theatre productions; and if any similar arrangement exists in any other member ' state of the European Community.
§ Mr. MooreI have noted my hon. Friend's suggestion, but I do not think that it would be right to single out this particular type of investment for special tax treatment. Insufficient information is available on which to base an estimate of the net cost of the proposed relief. As far as I am aware, no comparable arrangement for relief for investment in commercial theatres exists in any other member state of the European Community.