ABSTRACT
The Conservative Manifesto, The Best Future for Britain, prioritised the areas of wealth, ownership, lower taxes and privatisation. The Tate created a Development Office in 1990 and turned the organisation into a professional fundraiser. The Development Office became a strategic agency in how the Tate managed its public and private partnerships. The chairman of the Tate's trustees, Dennis Stevenson, began negotiations to purchase Bankside Power Station from Nuclear Electric which had remained under government control. The Tate wanted the lowest market price; the government wanted the highest. To compete for the funding the Tate recognised the need to demonstrate the viability of its proposal. The American multi-national management consultancy McKinsey & Company was appointed to conduct a quantitative analysis to evaluate the viability of the proposal. The announcement of the National Lottery heralded the largest publicly funded arts and sports building programme in the UK.
