Channel 4
March 2022
Channel 4 is entirely commercially funded, but it has been publicly owned since it began broadcasting. The main reason it was set up as a publicly owned, commercially run station was to provide greater choice. Today though, audiences can now watch what they want, whenever they want, how they want, across a range of internet-enabled personal devices.
The independent production sector has also grown enormously so that it now supplies content to a wide range of broadcasters and streaming services. The Culture Secretary, after careful consideration and public consultation, has decided that Government ownership is holding Channel 4 back from competing against streaming sites such as Netflix and Amazon. I understand further details will be set out in a White Paper in due course and I look forward to reading them. The Culture Secretary has also been clear that she will seek to use the proceeds of the sale to level up the creative sector.
By investing money into independent production and creative skills in priority parts of the country, this will deliver a creative dividend for all. The UK made more films than Hollywood in the last quarter of 2021 and with many more studios opening in the UK, delivering funding will be key.
Access to Cash
March 2022
Cash remains an important part of daily life for millions of people across the UK, which is why the Government has committed to legislate for the protection of access to cash.
As of October 2021, LINK reported that there were around 41,000 free-to-use ATMs in the UK. More broadly, the Financial Conduct Authority reports that as of the second quarter of 2021, nearly 96 per cent of the UK population are within 2km of a free-to-use cash access point.
Following a detailed consultation, the Government intends to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities. Having already facilitated the wide-spread adoption of cashback without a purchase through the Financial Services Act 2021, the Government will set out next steps in due course.
Although schemes such as Community Access to Cash have been very successful, I hope that future legislation will ensure the needs of cash users are understood and continue to be met by industry, including large and small retailers.
Beer Duty
January 2022
The Autumn Budget 2021 confirmed that duty rates on beer, cider, wine and spirits will be frozen for another year, a move which will save consumers £3 billion over the next five years, and provide further support to the hospitality industry and its suppliers as they recover from the pandemic. Duty rates on draught beer and cider will be cut by 5 per cent, taking 3p off a pint and further supporting pubs.
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