As part of the cuts to the Department for Culture, Media and Sport, there will be reductions to the PLR fund. There will be a reduction of 6.6% over the next four years, although the fall in real terms will be significantly bigger.
In addition, it has been announced that the PLR body will be abolished, with its functions moved elsewhere. See Ed Vaizeyâ€™s letter for details.
The Society of Authors has a lot more to say about this on their website.