CENTRAL Devon MP Mel Stride has welcomed the Government’s decision to continue to reduce business rates for local newspapers by £1,500 a year for an additional five years to support local and regional journalism.

The Chancellor has also committed to considering a range of potential tax incentive to support the news publishing industry, including policy options on VAT.

Mr Stride said: “Supporting local journalism is essential to our democracy. In our social media age of misinformation and fake news, local newspapers are a trusted source of information.

“They are also an avenue for promoting worthy local causes and giving a voice to those who need it the most. Committing to a business rates discount worth £7,500 during the next five years will rightly provide a bit of help to this vital industry.”

An estimated 40 million people in the UK read local newspaper articles in print or online at least once a month.

According to a 2018 YouGov Survey, local newspapers in print and digital are the most trusted source of local news and information, narrowly ahead of local commercial tv and radio and far ahead of social media.