Yesterday at the Buy Art Fair at Urbis http://www.buyartfair.co.uk/ I took part in the panel discussion of "Public/Private: Institutions and Developing a Market for Contemporary Art."
The others on the panel were Lewis Biggs (Liverpool Biennial), Mark Waugh (A Foundation), and Paul Moss (Workplace Gallery).
I quite enjoyed the discussion but think it was only just getting started when we ran out of time. My main position was that most UK public authority galleries have been driven by governmental non-cullture priorities for so long that curators have been artistically de-skilled and don't have curatorial confidence to be validating players in the art market; in this context, the Arts Council's ambition for more adventurous collecting policies is mostly a fantasy.