Musée Picasso

So the cultural gift schemes in the United Kingdom, for example, encourages owners to transfer important cultural objects into public ownership in exchange for tax benefits.

In France, uh, they also have this system, and the muse- uh, the Picasso Museum in Paris, for example, was substantially developed through works transfer to the French states in lieu of inheritance tax.

At the same time, policy must also protect museums' public value.

So tax incentives are themselves a form of public support because the government gives up tax revenue, and it's therefore reasonable to require transparency, accountability, and evidence that donations serve a public purpose.

He has just turned 80 and he's been a lifelong admirer of Picasso.

And it was, I think, an amazing idea on the part of the Musée Picasso in Paris, which is our main lender.

A few years ago, when they were celebrating the 50th anniversary of Picasso's death, they invited Paul Smith to have the run of their collection, thousands of works of art, to sort of see Picasso through a designer's eye, And so Smith has very humbly taken on this brief.

And what he's ended up doing, he has picked up on this theme of play and reinvention and recycling, which is what the fashion world does all the time.