Funding to both the Australian Broadcasting Corporation (ABC) and the Special Broadcasting Service Corporation (SBS) will be cut under the Abbott Government, which has proposed a one per cent reduction in the base funding.
The measure translates into a loss of $8 million in funding over four years for SBS and $35.5 million for ABC.
The Australia Network will also be axed.
It is currently run by the ABC under a 10-year, $233 million contract and its scrapping is expected to save the government $196.8 million over nine years.
Both public broadcasters are substantially funded by the Commonwealth, with current annual appropriations standing at approximately $1.1 billion for the ABC and $270million for SBS.
The budget measures follow a report from the Commission of Audit, which recommended that the ABC and SBS be independently benchmarked to identify potential efficiencies and savings.
The measures are in stark contrast to the previous budget delivered by former Treasurer Wayne Swan, which included an extra $69.4 million for the ABC in extra funding for news and current affairs over four years, as well as $30 million over three years to expand its digital offering.
$20 million in new funding was also committed to SBS, to be delivered over three years.
In late January, news broke that the federal government was to conduct what it called an efficiency review into the operations of both public broadcasters.
Hundreds have since attended rallies in support of the public broadcasters across the country, including one in front of Parliament House earlier today.
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