The consultation comes amid falling turnout at elections and will look at how to beat voter apathy and work out how to best deliver engagement between the political parties and voters.
Tessa Jowell, secretary of state for culture, media and sport, issued the consultation on Thursday, in response to the Electoral Commission's report, Voting for Change, published last year.
Under consideration will be the question of whether all the most popular television and radio channels will be required to carry PPBs, instead of the existing public service TV channels and national analogue radio services.
The public will are being asked to comment on issues such as whether more parties should have PPBs, and whether they should be shorter and more frequent.
The consultation will also cover how to reach audiences that are most disengaged from the political process, possibly via the internet or mobile phones.
Jowell said: "This consultation will enable us to ensure that we are using the resources of the modern media to reach voters in the most effective way so that, in tandem with other steps being taken across government, we can engage as many people as possible in the democratic system."
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