The Conservative Party has pledged to set up a £150m fund to help museums and galleries buy new works, and has allocated £5m a year for preserving British heritage overseas.

The Tories claim £4bn extra could be provided over seven years by abolishing the Big Lottery Fund, one of the current lottery distributors.

In its culture manifesto, the party promises a greater emphasis on the cultural value of the arts, and drastic cuts in bureaucracy at the Arts Council and the Department for Culture.