Cabinet Office art collection swells in value to almost £10million

23 September 2023 , 18:41

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The value of the collection could pay for almost 270 nurses (Image: PA)

Downing Street’s collection of art and antiques has nearly doubled in value this year - to almost £10million.

The collection of paintings, antiques and heritage items is mainly held in Number 10 and 70 Whitehall, the main Cabinet Office building - but isn’t on display for the general public. Officials have the collection revalued every five years - with this year’s assessment adding a huge £3.5 million to the value, according to the Cabinet Office’s annual accounts.

The £9.4million value of the haul - which includes artworks gifted to previous Prime Ministers as well as a collection of clocks - would be enough to pay the annual salaries of almost 270 nurses.

Joe Ventre, digital campaign manager of the TaxPayers’ Alliance, said: “This revaluation paints a pretty picture of the worth of the Cabinet Office’s art collection. But while the cost of government departments soars, officials should ask whether holding on to all of this treasure trove is really worthwhile. Mandarins shouldn’t rule out selling some of these items to make room for savings.”

The Cabinet Office annual report reads: "Townley Valuation Services Limited value art and antiques, including furniture, carpets, clocks, silver and ceramics situated in properties within the Whitehall estate on the basis of insurance value being the likely cost of replacing the items. Included within art and antiques are gifts to past and present Prime Ministers. These were held as at March 2023 on the basis of best estimate of the price at auction. Gifts are further subject to professional valuation on a regular basis as required."

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