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Hello, I help host and manage a web site for a Welsh Scout District which is under Scouting UK. Last year the Scouting Association of UK came up with a makeover for their visual branding. Integral to this branding is their insistence on the commercial font The Serif.
For an example of the new The Serif font in use head to the Scout UK web site and check out the graphic "i.VOLUNTEER":
http://www.scouts.org.uk/

In a recent upgrade for this District web site we looked for a font that might be an acceptable alternative to the commercial font. So far the closest we have found is called SerifA.
http://www.penarthdistrictscouts.org.uk/

Is there a much closer alternative free font to The Serif that we could use to bring us more in line with the National model?

The simple answer is NO. The not so somple answer, in my personal opinion:

http://www.abstractfonts.com/font/11814

look at the bold version inside.

I find it amazing that an organization like this chooses one of the most expensive typefaces around and then obliges all member groups to use - thus buy - this.

As Ivan said there is no alternative. All free Egyptienne fonts are distictly different.

Yet,to help you in your search Ilox, the name is not 'The Serif' but 'TheSerif'. The face used in your sample is the Black. Try "theserif"+9, Luccas de Groot's original version. No-one will notice the difference in the question mark and the kerning.