Will Resale Royalties To Artists Hurt UK Art Market?

Staring next year artists in the UK will earn a percentage of the resale value of their work when it changes hands. “The measure would earn artists royalties of 4.5% on sales of up to £50,000, with a sliding scale coming into effect above that. However, royalties to the handful of artist millionaires would be capped at £9,000 for each sale. The payments would help some well-known artists.” But some say that the plan will chase art sales out of the country to the US