It added that this money should be used to fund the cash-starved media. The Commission, headed by Geoff Mulgan, Tony Blair's former head of policy, has told the Guardian that they have released a report, Making Good Society, which will warn about the control of the media by a few big players.

The report noted that four publishers control 70 per cent of the local and regional press, three companies control the national television news and only four companies handle nearly 80 per cent of the radio news market. The report noted that because of the decline in advertising revenues and the audiences shifting to online platforms, nearly 100 local and regional newspapers have closed down during the last one year alone.

It calls for the future government to preserve freedom on the internet, promote accuracy and ensure that it is not controlled by powerful interests, and lays emphasis on promoting new media and encouraging a diversity of news sources.