France’s Bayeux Tapestry is set to be covered by a UK Treasury guarantee of around £800 million ($1 billion) when it goes on loan to the British Museum in 2026.
That means British taxpayers will ultimately foot the bill to protect the 230-foot-long tapestry against damage or loss during its journey from France to the UK. It’s part of the UK government’s indemnity scheme, which acts as the insurer instead of paying for commercial insurance. However, nothing will be paid upfront; the £800 million is a contingent liability, only coming into play if something goes wrong.
The Treasury says the scheme has already saved UK museums about £81 million and has covered loans such as Vincent van Gogh’s The Bedroom (1888) at the National Gallery in 2024-25.
UK ministers believe the risk of damage to the tapestry is very low, thanks to strict transport and display measures. The Treasury told the Financial Times it had “received an estimated valuation” of the tapestry, which has been “provisionally approved.” Sources expect the final figure to be roughly £800 million. While the Treasury didn’t dispute that, it refused to comment on the exact valuation.
Before the indemnity can go ahead, it needs approval from chancellor Rachel Reeves. It’s part of a broader cultural agreement between Britain and France, announced by President Emmanuel Macron during his state visit to London in July.
Not everyone is happy about moving the nearly 1,000-year-old wool embroidery, though; some figures in the French art world are worried it could be damaged on the way to the UK.
A recently released six-page agreement between the British and French culture ministries lays out exactly how the tapestry will travel and be displayed. It’s described as a “fragile and degraded thousand-year-old textile” and must be transported in a specially designed crate and displayed behind a protective screen. France will also oversee a trial run of the transfer using a replica fitted with vibration-monitoring equipment. Officials expect the tapestry to travel by truck via the Channel Tunnel.
Once it’s in London, the British Museum will take care of it until July 2027 and will fund a condition report when it goes back to Bayeux. George Osborne, former chancellor and now British Museum chair, has called it potentially “the blockbuster show of our generation,” comparing it to the Tutankhamun exhibition of 1972.
The tapestry, thought to have been made in 11th-century England, possibly by nuns, tells the story of the Norman invasion of 1066 in a comic-strip style. The museum expects the exhibition to generate plenty of merchandising revenue.
The loan will also coincide with restoration work at Bayeux. As part of the deal, British artifacts, including the Sutton Hoo treasures, will be sent to museums in Normandy in exchange.
