Today, the Association of British Orchestras (ABO) welcomed Chancellor Jeremy Hunt’s decision to extend the uplifted rate of Orchestra Tax Relief by a further two years, announced in the Spring Budget 2023.
ABO CEO, Judith Webster said: “Today’s Budget Statement is a vote of confidence in the UK orchestral sector and the wider creative industries. We were delighted to hear that the Government has extended the 50% Orchestra Tax Relief rate, in response to the case made by the Association of British Orchestras. The higher rate of relief will help unlock new growth, protect and generate employment in the sector, increase access to culture and opportunity across the country and boost music export potential. Orchestra Tax Relief has succeeded in helping UK orchestras to generate new and ambitious work on and off the stage – from presenting cutting edge artistic programming reaching millions of people to delivering education and health programmes across the country. The extension to the higher rate of relief means that British orchestras can now invest in and plan confidently for the future. Continued public investment in the UK’s arts and culture is crucial to allow the UK classical music industry, and all those who work within it, to thrive for the long term and continue to increase accessibility, sustainability and reach across the UK and abroad.”
UK orchestras are a source of national and international pride. They are a vital part of a UK music industry which contributed £4billion to the UK economy in 2021, and a key contributor to the UK’s creative industries which employ over two million people and grew at twice the rate of the UK economy in the last decade. UK orchestras are a vital driver of the UK’s growth, prosperity and international soft power.