Treasure Valuation Committee (Triennial Review)

Lord Vaizey of Didcot Excerpts

Tuesday 12th June 2012 Written Statements

[The Parliamentary Under-Secretary of State for Culture, Olympics, Media and Sport (Mr Edward Vaizey)]

On 15 December 2011, I made a written statement to Parliament about the triennial review of the Treasure Valuation Committee, Official Report, column 114WS, volume 537. I am pleased today to announce the completion of the review.

The Treasure Valuation Committee provides the important advisory role of recommending to the Secretary of State valuations for the treasure items brought before it and providing advice on the apportionment of any reward for the treasure item.

The review concludes that there is a continuing role for the Treasure Valuation Committee as an advisory non-departmental body with secretariat support provided by the British Museum. It finds that the committee has good standards of corporate governance and it makes a number of recommendations aimed at strengthening transparency and openness.

The review of the Treasure Valuation Committee was conducted by my Department with the support of a review group made up of key stakeholders with a direct interest in the treasure valuation process. The review were publicised on my Department’s website and stakeholders were invited to contribute views.

I am grateful to everyone who contributed to the review. I have arranged for copies to be placed in the Libraries of both Houses.