The settlement is for six years, with annual increases in the licence fee of 3 per cent. for the first two years and 2 per cent. in years three, four and five. There will be an increase in the sixth year of up to 2 per cent., depending on a further review nearer the time.
Total licence fee income is estimated at £3.4 billion, £3.5 billion, £3.6 billion, £3.7 billion, £3.8 billion and up to £3.9 billion in years one to six respectively.