The DCMS is increasing its capital allocation to museums and galleries by 147 per cent in cash terms to £191.4m over the next three years.

Around £108m will help maintain existing infrastructure and collections and the remainder will fund new projects, such as the £50m transformation of the Tate Modern.

The settlement also includes £22.5m for the British Museum, £18.2m for the Natural History Museum and £13m for the National Museum of Science and Industry.

Culture minister Margaret Hodge said: “Our national museums and galleries are the envy of the world, setting the highest standards and attracting ever greater numbers of visits.

“This capital investment will not only allow essential maintenance work to be put in hand, but for some it will also kick off exciting new projects further to build on existing success.

“The last ten years have seen a golden age for our cultural heritage. We are determined to ensure that our national museums continue to thrive as exciting centres of excellence, scholarship and innovation.”

A further £2m a year will be independently invested in the DCMSWolfson Museum and Galleries Improvement Fund.