The UK record industry wants tax breaks on the money it spends finding new artists, according to a report on the BBC website. Apparently the British Phonographic industry:
wants its members to be eligible for tax credits which are currently awarded to businesses conducting research.
Such a system would lead to “greater investment” in new music, said BPI chairman Peter Jamieson.
In a world where YouTube and MySpace can break a band, and the need for the record industry oligarchs is increasingly questionable, you have to admire their chutzpah. But as we all know, calling for tax breaks is the last refuge of the scoundrel.
Update: Will Davies has picked up on this at Potlatch and has a more extended, erudite and intelligent comment to make. As usual.
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