Library closed? Local youth club shut down? No money for bin collections because of "austerity"? After the last recession we found out that many councils had hundreds of millions of savings stashed away. Now, just to confirm something else we presumed but didn't know: Wasting Monet? (TaxPayer's Alliance) "Local authorities own a significant amount of artwork. Museums, galleries and libraries are part of the public sector and often under the remit of their local authority. Some authorities’ pieces of art are of significant value." [PDF]
Local authorities in the UK own at about two million pieces of art, which is worth nearly £1.9 billion.
Middlesbrough council had the most with more than 250,000 items. They didn't reveal how much it was worth. Of those that did, Manchester city council had the highest value, just over £369 million. Bassetlaw council had the most recent purchases: 201 and Wiltshire council had the least on display: zero percent from 2099 items (one of eight councils with nothing on display).