The government has announced a "rescue package" of £1.57bn to help organisations in the arts, culture and heritage sectors survive the impact of coronavirus.

Funding will go to thousands of institutions, with investment targeted at the performing arts and theatres, heritage, historic palaces, museums, galleries, live music and independent cinema, which will be able to access emergency grants and loans.

The government says that the money - "the biggest ever one-off investment in UK culture" - will provide much-needed financial support for cultural and heritage organisations across the country which have been hit hard by the devastating effects of the virus. The intention is to help them stay afloat whilst their doors are closed.

Funding to restart paused projects will also help support employment, including freelancers working in these sectors.

In its statement, the government points out that many of Britain's cultural and heritage institutions have already received unprecedented financial assistance to see them through the pandemic, including business rate holidays, loans and via the coronavirus job retention programme. Some 350,000 people in the recreation and leisure sectors have been furloughed since the pandemic started.

The new package will be available across the whole of the UK. Decisions on awards will be made working alongside expert independent figures from the sector, says the government, including Arts Council England and other specialist bodies, such as Historic England, National Lottery Heritage Fund and the British Film Institute.

Repayable finance will be issued "on generous terms", tailored for cultural institutions to ensure they are affordable. Details will be announced when the scheme opens for applications in the coming weeks.