DCMS

"DCMS is inherently conflicted in the management of its Covid loan-book," he said.

"DCMS insisted that these clubs were financially viable when it awarded the loans, despite public reports at the time to the contrary," said the PAC.

The money announced on Thursday includes a pot worth £120m, which will be available to 17 major institutions such as the British Museum, National Gallery and National Museums Liverpool, which all get their regular annual funding from the DCMS.

"DCMS should continue to keep a close eye on English rugby union clubs that have been teetering on the edge," he added.

"DCMS accepted that some borrowers were already financially risky before the pandemic," noted the NAO in its report.