The money announced on Thursday includes a pot worth £120m, which will be available to 17 major institutions such as the British Museum, National Gallery and National Museums Liverpool, which all get their regular annual funding from the DCMS.

Those venues will also receive a 5% increase in their annual grants, worth more than £15m.

However, that rise hasn’t been extended to hundreds of other cultural organisations that get grants via Arts Council England, many of which have struggled with near-standstill funding for the past decade.

There will also be £85m for the 2025/26 financial year “to support urgent capital works to keep venues across the country up and running”.

Last year, the body representing UK theatres warned that 40% of venues risked closure over the next five years without significant capital investment.

And in October, the English Civic Museums Network called for an emergency injection “to rectify some of the damage inflicted by austerity”.

Local museums will now have a dedicated £20m fund “to help keep cherished civic museums open”.

Culture Secretary Lisa Nandy will announce the funding in Stratford-upon-Avon on Thursday to mark the 60th anniversary of the first arts White Paper.

She told BBC Breakfast: “£270m today will shore up those institutions that are at risk of closure. It will help with infrastructure.

“We’ve got very crumbling infrastructure. Anyone who’s visited a local theatre recently will have seen buckets on the floor catching drips, and stages closing at some of our national institutions because of those problems.

“It will make sure that libraries can remain open in parts of the country, and most of all will shore up our local museums, which are at risk of closure.”