The Million Pound Drop is making a comeback, but it's felt the pinch of austerity Britain.

Renamed The £100K Drop, no longer will the contestants be trying to hold on to £1 million. Instead they'll be competing for the – comparatively paltry – amount of £100,000.

Davina McCall is returning for a whopping 60 episodes of the now-daytime show which will have exactly the same premise as The Million Pound Drop, but will be feeling £900,000 lighter.

The show will air on weekday afternoons, no doubt filling that game show void left by Deal or No Deal, and hoping to take some of Pointless and The Chase's viewers.

Contestants will now start their game with £100,000, which they must try and hold on to while answering seven multiple-choice questions.

Speaking about making her return to the show, host Davina McCall said: "I love this show so much. And you know what's so exciting? £100,000 - it is literally a life-changing amount of money isn't it?

"And I'm really crossing my fingers for some big-money wins, and I'll see you every weekday afternoon. I can't wait!"

Richard Hague, Head of Entertainment at production company Remarkable Television, said: “The £100K Drop has all of the original format’s nail-biting tension, genuine jeopardy and excitement as players attempt to beat the Drop, keeping viewers on the edge of their seats.

"We are very excited to be bringing the show to a brand new audience and overjoyed that the brilliant Davina will be returning as host."