§ Mr. BakerTo ask the Secretary of State for Culture, Media and Sport if he will estimate the total value of works of art held by the Government. [34516]
§ Mr. Chris Smith[holding answer 13 March 1998]: No complete valuation exists of works of art held by the Government. Monetary values for works of art are generally assessed for the purposes of purchase, sale or insurance. This does not apply to the Government, because, in general, works of art held by the Government are neither traded nor insured.
§ Mr. BakerTo ask the Secretary of State for Culture, Media and Sport how much has been spent by the Government since 1 May 1997 on acquiring works of art; and how much has been realised from the sale of works of art. [34468]
§ Mr. Chris Smith[holding answer 13 March 1998]: Since 1 May 1997 the Government Art Collection has spent £98,041 on purchases of works of art. No works of art have been sold from the Government Art Collection. The Foreign Office has spent approximately £20,000 on purchases.
We have not been notified of any other purchases or sales by other Government departments.