From following in the footsteps of Australia to force platforms to pay for news to paying freelances more fairly, peers have made a series of practical suggestions to ensure the journalism industry in the UK “survives and thrives”.

The most attention-grabbing proposal from the House of Lords Communications and Digital Committee’s Future of Journalism report, published on Friday, was the call for urgency to create a Digital Markets Unit to rein in the dominance and power of platforms such as Google and Facebook.

The Government in fact simultaneously announced the creation of the new competition regime on Friday morning in its response to the Competition and Markets Authority’s market study into digital advertising and online platforms.