Tourism: Arts

Business, Innovation and Skills written question – answered on 15th December 2011.

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Photo of Angie Bray Angie Bray Conservative, Ealing Central and Acton

To ask the Secretary of State for Business, Innovation and Skills what assessment he has made of the consequences for inbound tourism to London of planned changes to the art market in 2012.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

On 1 January 2012, the Artist's Resale Right Directive 2001 will be fully implemented in the UK, when Resale Right is automatically extended to sales of in copyright works by qualifying deceased artists. On the same date, Statutory Instrument No. 2873 will come into force, correcting the requirements as to the nationality of those entitled to exercise Artist's Resale Right.

No specific assessment of the effect of these changes on tourism has been made, however the total economic impact of the right once extended to deceased artists has been assessed at less than 0.15% of market turnover (around £12 million in royalties in a market worth £8 billion per year) and accordingly the extension is not considered likely to damage the market. The changes made by the Statutory Instrument on the other hand are actually estimated to reduce administrative costs for the art market by 10% to 20%.

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