Annual funding for Icelandic publishers may lead to drop in book prices

Thursday, 20 September 2018 Books+Publishing

The Icelandic government has announced ISK 400 million (A$4.9m) in annual grant funding for book publishers as part of a plan to promote the Icelandic language, reports Iceland Review.

Beginning in 2019, the annual grants constitute the largest amount of funding that has been injected into the local book publishing industry, and is part of a wider action plan that seeks to strengthen Iceland’s publishing industry and media, as well as promote the Icelandic language in the digital realm.

Minister of education Lilja Alfreðsdóttir said she expects the price of books in Iceland will drop as publishers receive the funding, but it is not a requirement to receive funding.

‘It is in their hands but I think it’s imperative that they honor these measures [the ministry’s action plan] … and take them into account,’ she said.

‘I just trust that they will make sensible decisions where [prices] are concerned.’

The announcement comes after a proposal to parliament last year seeking to abolish value-added tax on books failed.

Category: International news