Britain should loan France the Rosetta Stone in return for being allowed to borrow the Bayeux Tapestry, a senior Tory MP has said as the battle to host the relic began.

The embroidered artwork is set to be displayed in the UK after Emmanuel Macron, the French president, gave the move his seal of approval.

The loan of the 70m-long artwork, which depicts events of the 11th century leading up to the Norman conquest of England, means it will leave French shores for the first time in 950 years.

The Telegraph understands the tapestry is destined to go on show at the British Museum in 2022, after curators have been in discussion with their French colleagues for some time.

Tom Tugendhat, the Conservative chairman of the foreign affairs select committee, said Britain should return the favour and hand over a similarly historic item in the form of the Rosetta Stone.