UK Budget extends orchestra tax relief for two years
OrchestrasThe Chancellor Jeremy Hunt has said that Covid-era tax relief of 45 and 50 percent for orchestra and theatre performances will be maintained until 2025, ‘ because our theatres, orchestras and museums do such a brilliant job at attracting tourists to London and the UK.’
The move was welcomed by Musicians Union general secretary Naomi Pohl (pic): ‘We are grateful that the Government has listened to the MU and others in the creative sectors and extended the higher rate of tax relief for theatres and orchestras for another two years.
‘The cuts announced to the BBC Orchestras and Singers last week, along with those brought in by Arts Council England in the autumn, are a stark reminder of the difficulties currently being faced by arts organisations, so this extra injection of cash is a vital lifeline for an incredibly successful sector.’
To support the cultural sector, tax relief for theatres, orchestras, and museums & galleries will stay at rates of 45%-50% until 2025.
This temporary move will help businesses to keep investing in high quality productions.
— HM Treasury (@hmtreasury) March 15, 2023
At least someone in government is paying attention (of the welcome sort) to the arts!
Hunt’s “fiscal drag” will cancel out any pay rise orchestra player’s get as it will most other folk, unless they manage to keep their wealth offshore as Cameron, Sunak et al do.
Not sure why this is illustrated with a photo of Naomi Pohl. The person who should given the credit is Hanna Madalska-Gayer of the ABO. She’s done a fantastic job getting the Treasury to agree to this. Another triumph for the ABO.