Emperor Nero’s golden palace, the walls of medieval Siena and the foundations of Venice will all receive sorely needed restoration funds after Italy approved a planto spend €300m ($325m/£220m) to protect its cultural heritage.

Caring for thousands of years’ worth of art and architecture is a perennial problem in Italy, and many sites have been left in a fragile or decayed state by public spending cuts and mismanagement.

The walls protecting Siena are among the monuments set to be restored, at a cost of €2.2m over the next three years, the culture ministry said.

The investment plan was unveiled shortly after prime minister Matteo Renzi’s government passed a 2016 budget that increases spending on culture, including a handout to 18-year-olds to spend on activities like cinema trips.

Under the plan, €13m will go towards restoring the golden palace Emperor Nero had built in Rome as a monument to himself, but which the later emperor Trajan buried.

More than €6m will go to various projects aimed at helping to prop up the northern canal city of Venice.

Cultural sites will also be kitted out with security alarms and video surveillance, the ministry said, adding that this spending would come to €50m.