The cost of the annual TV Licence fee will increase from £157.50 to £159 from April 1 2021, it has been announced.

The fee is set by the Government, which announced in 2016 that it would rise in line with inflation for five years from April 2017.

The new cost equates to 43p per day, according to the broadcaster.

Those buying or renewing a licence after April 1 2021 will pay the new fee, while those already buying a licence on an instalment scheme which started before that date, such as via a monthly direct debit or weekly cash payments, will continue to make payments totalling £157.50 until their licence comes up for renewal.

The cost of an annual black and white licence will rise from £53.00 to £53.50.

The licence fee model has come under fire recently amidst criticism of the broadcaster over equal pay, diversity and competition from streaming services such as Netflix, as well as the abolition of free TV licences for all over-75s.