In the Autumn Statement yesterday morning, Chancellor Jeremy Hunt MP said: “The second lesson of Nigel Lawson’s big bang is the most important driver of global success is not tax subsidies, but competition. So, we will legislate to give the Digital Markets Unit new powers to challenge monopolies and increase the competitive pressure to innovate.”
Welcoming this commitment to bring forward legislation for the Digital Markets Unit, News Media Association chief executive Owen Meredith said: “We are delighted that the government has used the Autumn Statement today to restate the commitment to bring this vital legislation before Parliament during this session. These measures are pro-growth and will deliver value for money back to the pockets of consumers, both vital at this time.
“As the main investor in trusted journalism in the UK, the news media sector has a vital role to play in our democratic society as we face up to the serious challenges ahead of us.
“By acting to give the Digital Markets Unit the teeth it needs to level the playing field between news publishers and the tech platform, government has moved forward with its stated objective of placing journalism on a truly sustainable footing.”
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