Museums to get more endowments?

Museums and other cultural heritage institutions could be set to receive funding from different avenues, as culture secretary Jeremy Hunt has commissioned a review into the feasibility of developing endowments.

While some institutions already receive endowments, Mr Hunt announced that the government is keen to examine the prospect of using them more widely.

The cultural leader commented: 'I want our cultural institutions to have a broad and plural funding base to ensure their continued success over the years ahead.

'This is not about importing wholesale the American model of funding for culture to the UK, or about replacing public investment, but providing a mixed funding model of public, private and lottery revenue, supplemented by box office and commercial activities.'

He added that endowments will not generate 'significant' additional revenue in the short term, but it may well lead to 'significant dividends' in up to 20 years.

Neil MacGregor, director of the British Museum, will conduct the report.

Due to be published in September, it will form part of a larger review into encouraging philanthropy for cultural institutions.