Media

Liz Brion, Head of Media Tax at Grant Thornton says: "There was little in this Pre Budget Report of real relevance to the media sector. At a time, when revenues for many companies are falling, there is little here that will have caused any cheer for businesses outside the moves to help small businesses facing difficulties. What will be interesting is to see the detail of the new foreign profits regime and how that will work in practice, as this could bring real benefits to multi-territory groups.

"The most welcome aspect will be if the Chancellor has managed to bring some confidence back to the economy and increase consumer spending and business confidence. Until that happens, media companies will feel that their revenues continue to be under threat."