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Lawyer Pierre Valentin at Constantine Cannon told the Art Business Conference that ARR “won’t be abolished” after the UK leaves the EU in March 2019.

“ARR will be the 100,001 item on the parliamentary priority list and we’ll all be dead by the time [policy makers] get to it,” Valentin told delegates.

He said he believed the UK would retain ARR as “the trend around the world is towards adopting [a form of] ARR. Australia and New Zealand have adopted it and the US is talking about it.”

He also said its abolition in the UK would be opposed by the agencies collecting the levies, though he predicted “a doubling of effort by dealers to get rid of ARR”.