Councils Struggle Financially But Own Artworks Worth £1.5 Billion

Councils across the UK were urged on Monday to sell their not-on-display art collections amid concerns over their finances. Campaign group the Taxpayers’ Alliance said its research found that local authorities are sitting on nearly 2 million pieces of art, worth almost £1.5 billion, but only 28 percent of the works are on public display. Jonathan Eida, who conducted the research, said in a statement that councils should either put the pieces on display, or “consider selling them to replenish depleted coffers.” The call came after a number of local councils have declared effective bankruptcy in recent years by issuing Section 114 notices, with bodies representing local authorities in England warning that a significant proportion of councils were also at risk of doing so....