To ask the Minister for the Arts if he will make a statement about the prospects for enhanced private patronage of the Arts consequent upon the Budget tax changes.
I warmly welcome the Budget announced by my right hon. Friend the Chancellor of the Exchequer. The reduction of the higher rates of income tax to 40 per cent. will ensure that high-earning individuals have more disposable income to invest as well as to give in charitable donations. Doubling the ceiling on payroll gifts from £120 to £240 per annum will make it more attractive for donors to select a wide range of charities to receive their gifts (they may choose up to eight), among which I hope arts charities will figure prominently.