"Prime Minister Anthony Albanese stated, 'It shouldn't just be able to be taken by a large multinational corporation and used to generate profits for that organisation with no compensation appropriate for the people who produce that creative content.'"
"'We think that investment in journalism is critical to a healthy democracy,' Albanese added, highlighting the importance of compensating journalists for their work."
"The proposed News Bargaining Incentive would charge major platforms that choose not to strike commercial deals with news publishers a 2.25% tax on their Australian revenue."
"The government expects the incentive would raise between 200 to 250 million Australian dollars ($144 million-$179 million) a year."
Australia's government has proposed a tax on digital companies like Meta, Google, and TikTok to fund journalism. The draft legislation aims to create financial incentives for these platforms to negotiate payments with news organizations. Prime Minister Anthony Albanese emphasized the need for fair compensation for journalists' work. The proposed tax would be 2.25% on Australian revenue for platforms that do not reach agreements with publishers. The government anticipates this initiative could generate between 200 to 250 million Australian dollars annually to support the news sector.
Read at Fast Company
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