43. Mr. BowlsTo ask the Minister for the Arts what contribution the private sector can make to preserve important works of art for public viewing.
§ Mr. LuceThe Government firmly believe in the partnership between private and public sectors in the preservation of our nation's heritage. There are many ways in which the private sector, whether corporations or private individuals, may contribute to the preservation of important works of art in this country. Sponsorship and generous private patronage of our museums and galleries has already made a significant contribution to the acquisition, conservation and display of important works of art. Those who are fortunate enough to own such works of art may offset them against capital taxation by either offering them to the nation in lieu of tax or to a national institution by means of a private treaty sale. Similar benefits to both the nation and the individual or corporate giver will accrue from cash gifts to arts charities with the establishment of gift aid as announced by my right hon. Friend the Chancellor of the Exchequer in his Budget statement. I am confident that the introduction of this concession will further encourage both corporate and private giving to museums and galleries and fine arts charities such as the national art collections fund as well as more generally to a range of other arts bodies.
§ 53. Mr. WoodTo ask the Minister for the Arts what steps he is taking to encourage public access to important works of art held in private hands.
§ Mr. LuceI actively encourage public access to privately owned works of art by facilitating the lending of such works for public exhibition through the Government indemnity scheme. This scheme, by removing the substantial cost of insurance, not only makes it possible for institutions around the country to stage exhibitions which often include the cream of private collections but enables the long-term loan of privately owned items to institutions which can then display them in their galleries.