Commenting on the announcement, PPA Managing Director Owen Meredith said: “We are delighted that the Chancellor has acted and brought an end to this unfair and illogical tax.
“Publishers are reaching ever bigger audiences though cross-platform distribution, with digital audiences hungry for the trusted, quality content our members publish. However, monetising those audiences in the digital landscape remains challenging, and has been further hampered by a punitive tax regime that adds a 20% VAT premium to digital content.
“Our tax system has failed to keep up with technology and recognise changing consumers habits in accessing news and information. I’m delighted the Chancellor has listened to our representations and acted to end this tax on reading. This tax cut will be good for consumers and publishers alike, it will promote innovation in paid-content models as well as investment in quality journalism.
“The PPA has been at the forefront of this long campaign as the collective voice of our members across the publishing industry. This result shows what we can achieve when we work together.”
