Banker gifts £1m Picasso collection

Updated

Zak Hussein/PA

A City fund manager has donated a coveted collection of 100 Picasso etchings to the British Museum in an extraordinary act of philanthropy.

The donation, worth £1 million, comes as the treasury announces a proposal of tax-relief on donations of pre-eminent art - but only on gifts to the state rather than direct to museums or galleries.

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