When I want my children to stop doing something, I usually threaten that I will take something from them if they continue.
Somehow, politicians are not aware that the same incentives exist in adults..
Tax what you want less of…
It’s so simple.
Fears that Labour will hike CGT in the budget are causing art collectors to move their masterpieces out of Britain, leading dealers are warning.
Philip Hoffman, chief executive of the Fine Art Group — responsible for more than $1.4bn of deals in artworks and jewellery — warned of “a rush among collectors to move their art out of London”.
He said: “A huge number of art collectors in the UK have already got their fingers poised to move on October 29 if the wrong conclusion comes out of the budget.” He noted that the market was already “much smaller than it used to be and diminished”.
Johnny van Haeften, an Old Master dealer specialising in 16th and 17th-century Dutch and Flemish art, said: “All the entrepreneurs have left, all the non-doms have left.” He accused Labour policies of “leaving a void” in the art market, deterring both buyers and sellers.
“The awful thing is I can’t think of any really, really good picture that has remained in this country,” he said. “There have been a lot of excellent pictures. I can think of some very good Bruegel paintings we’ve sold in this country, but we’ve sold six Rembrandts, only one of which stayed in this country, and has subsequently been exported.”
Art, like wealthy individuals, is highly mobile.
It's all part of the impoverishment of Britain caused by high-tax policies.