GOVERNMENT culture secretary Maria Miller today announced £5m would be awarded to the National Museum of the Royal Navy.
The cash will be used to secure the long-term future of HMS Victory, based at Portsmouth Historic Dockyard.
The investment is part of The Catalyst Endowment programme, an initiative between the Departure for Culture, Media and Sport (DCMS), Arts Council England (ACE) and the Heritage Lottery Fund (HLF).
Mrs Miller, who is visiting Action Stations and Fratton Park this morning, said: ‘This is a fantastic result for HMS Victory.
‘Demand for Catalyst endowment grants has exceeded all forecasts, and the match funding provided by my Department, the Heritage Lottery Fund and Arts Council England has encouraged donors to come forward, and to build the endowments which will provide a long-term source of income to some of our greatest cultural institutions.’
Mrs Miller also used the opportunity to announce that an incredibly rare peridot and gold jewellery suite, which was at risk of leaving the UK, has been saved for the nation following an export bar being placed on it by Culture Minister Ed Vaizey. Three generous donors have come forward and provided the funds for the V&A to purchase the jewels, securing them for the nation and they will shortly be put on public display for all to enjoy.