The Treasury has announced that Buckingham Palace, The Queen's Portland limestone administrative centre and home in London, is to be renovated and upgraded at a cost of £369million. The work is due to begin in April 2017 and is expected to take 10 years.

It is not clear quite how much work is needed on the fabric of the building. The Teasury has emphasised the need to replace ageing cables, lead pipes, wiring and boilers, some of which are 60 years old. There are fears about potential fire and water damage, especially to some of the finest art collections in the country.

The Queen will continue to use the building while the work is carried out. The work will be funded by a temporary increase in the Sovereign Grant, as recommended by the Royal Trustees, who include the Prime Minister and Chancellor. This funding change will require the approval of MPs but is being justified by saying that if there were a fire at Buckingham Palace it would cost more than the renovation work to remedy.

Buckingham Palace has 775 rooms, including 19 state rooms, 52 royal and guest bedrooms, 188 staff bedrooms, 92 offices and 78 bathrooms. Every year about 50,000 people visit the palace as guests to state banquets, dinners, receptions and garden parties. It has been the official London residence of Britain's sovereigns since 1837.