UK governemt and Bank of England are investing in a secret stash of fine art treasures worth billions

Edith Hancock
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The government is investing vast amounts of money in historical art (Source: Petworth House)
While Brits have been tightening their purse strings since the credit crunch, an investigation by the TaxPayers’ Alliance has found that the government is putting those savings to good use – investing vast amounts of money in paintings and sculptures closed off to the public.

The government currently owns £3.5bn in historic art, but according to the campaign group, just three per cent of this is on display.

The Bank of England was one of the worst offenders for keeping the pretty things back from prying eyes.

The Bank owns over £4.7m worth of historic pieces of art, including a painting by Samuel Scott titled “The Building of Westminster Bridge” valued at a whopping £900,000, but just 1.5 per cent of its fancy decorative pieces are on display to the public.

The most valuable item in the government’s collection is owned by the Royal Armouries – a suit of armour worn by Henry VIII that comes in at a staggering £53.5m.

The Bank would not say what special occasion they’re waiting for before showing off the creative works.

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