Part of the debate – in the House of Lords am 11:27 am ar 7 Rhagfyr 2023.
Since it was introduced in 2016, £75 million has been paid out through orchestra tax relief. We have extended it at the headline rates for another two years and are grateful to the Association of British Orchestras and many others who have joined the consultation since that was announced in the Budget. Since our departure from the EU, we are of course bringing our tax reliefs in line with World Trade Organization rules. I am grateful for the collaboration we have had. We have made changes on connected party transactions and the going concern rule, and we are keen to continue discussion with orchestras to ensure that they know that only 10% of orchestral output needs to be produced in this country; they will still be able to tour around the world, so that people overseas as well as here may enjoy their brilliant work.