York’s National Railway Museum is among the biggest immediate winner. It will receive £18.6m to kickstart £50m transformation plans, including new gallery and exhibition spaces and the restoration of heritage buildings.

The museum will become the cultural hub of vast York Central redevelopment creating up to 2,500 new homes.

Judith McNicol, Director of the National Railway Museum, said: “This is wonderful news for the National Railway Museum – and for the City of York. This £18.6m investment by the Government is an extremely significant milestone in realising our £55m Vision 2025 campaign to turn our museum into a truly world-class attraction.

Coventry also gets an extra £7m to fund its 2021 UK City of Culture programme that will unlock £37m of extra funding and over £107m of tourism impacts.

Elsewhere, £125m will be invested in regional museums and libraries around the country.

More than £90m will be provided to extend the Cultural Development Fund which uses investment in heritage, culture and creativity to drive regeneration and growth.