Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of extending Theatre Tax Relief on the Government's levelling up policies.

The Government recognises the value of the UK’s world-leading creative industries. That is why at Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.

To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government has announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief (TTR). These rates will now taper to 30 per cent/35 per cent on 1 April 2025 and return to 20 per cent/25 per cent on 1 April 2026. Theatre tax relief is available to qualifying productions in all regions and nations in the UK.

The Government published a tax information and impact note at Spring Budget 2023, which sets out details of the policy impacts of the extension of the 45 per cent/50 per cent rates of TTR.