Tate-à-tête

The National Gallery's announcement of a new wing and more modern art-enabled by an unprecedented $375 million fund-promises to reignite a historic rivalry with Tate.

- Will Hosie

LAST May, Tate Modern celebrated its 25th birthday with a gala in the Turbine Hall: a raucous affair attended by artists Sir Grayson Perry, Sir Antony Gormley and Dame Tracey Emin. Food was prepared by the River Café's Ruthie Rogers and guests enjoyed a performance by the Pet Shop Boys. As Hollywood stars Daniel Craig and Reese Witherspoon mingled over Champagne, Maria Balshaw, the director of the gallery, was fielding questions about Tate Modern's future.

Accounts for 2023–24 revealed yet another deficit budget approved by the trustees, 'due to self-generating income not increasing at the same pace as the cost base post-pandemic'. Last March, Tate Galleries cut 7% of its workforce. When asked whether free entry to Tate Modern's permanent collection could one day be revoked, Ms Balshaw said 'I very much hope not'; yet she didn't rule out the matter. Acknowledging these difficulties, the group's état major launched an endowment fund with the goal of reaching £150 million by 2030. This has been touted as 'one of the most ambitious campaigns of its kind', designed to support exhibition programmes, research and public reach. Charlotte Mullins, art critic and former editor of