£1m gift to save Titian for nation

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The grant, the first to be publicly pledged to the campaign, is the largest gift for a single work of art by the Art Fund in its 105-year history.

The privately-owned masterpiece is being offered at a "significantly reduced price" of £50million to National Galleries of Scotland and the National Gallery in London. It is part of the Bridgewater collection, which has been on loan to the National Galleries of Scotland since 1945.

The Art Fund charity hopes its gift will encourage other bodies to help raise the full amount before the 31 December deadline. If the effort fails there is no guarantee the work will remain on public view in Britain or abroad.

David Barrie, director of the Art Fund, said: "Today we have put our money on the table. Now others must come together if this extraordinarily important painting is to be kept where it belongs."