The BBC is one of this nation's most treasured institutions that continues to command a central role in the lives of so many people here in the UK and overseas. The new Charter will put in place the right supporting framework to strengthen the BBC so that it continues to thrive in a fast-changing media landscape and goes on delivering the best possible for service for licence fee payers.
The Charter will overhaul how the BBC is governed, making it more accountable to the licence fee payer and strengthening its independence. I welcome the focus on high quality, distinctive content that serves all communities who make up our common national identity.
The core principle of impartiality will be embedded in the BBC's overall mission, and its role in supporting the wider creative industries will be expanded.
The BBC receives £3.7 billion from the licence fee and it is essential that this is spent wisely. To help ensure this, the National Audit Office will become the BBC's financial auditor. The board will also be required to ensure that the BBC is transparent and efficient in its spending with those enjoying remuneration packages greater than £450,000 being identified in broad bands.