This paper explores reading for pleasure, its importance, and its impact on literacy attainment and other outcomes and reviews much of the research on the importance of reading for pleasure. A debate has been rife in the UK over the past few years as to how best to teach children to read, which culminated in an "Independent Review of the Teaching of Early Reading" (DfES, 2006) led by Jim Rose in 2005. Although the Rose review recommended that children are taught synthetic phonics at the first instance, it also placed phonics teaching firmly within a language-rich framework that fosters positive attitudes towards reading and a love of books. Unfortunately, this context was lost in the subsequent press coverage. It therefore seemed important to the authors of the present paper to collect evidence that furthers our understanding of the value of reading for pleasure and to provide information that will enable parents, teachers and policymakers to promote reading motivation and wider reading. Following the introductory remarks that set the context in section 1 of this paper, Section 2, "The Story So Far," outlines evidence about the importance of reading for pleasure and the extent to which we read for pleasure in the UK, and addresses the issue as to whether or not there is a decline of reading for pleasure in this country. Due to the paucity of the research in this field, and in order to do justice to the complexity of the issue, the authors found it necessary to explore other underlying issues, such as reading motivation and choice. Section 3,"Delving More Deeply," therefore broadens the discussion and introduces the concept of reading motivation. Two elements of reading motivation --namely extrinsic and intrinsic motivation -- are outlined in more detail, while the issue of rewards/incentives is also briefly discussed. Section 4, "The Way Forward," briefly outlines the importance of home and school influences in shaping reading for pleasure and concludes with a discussion of the implications of this research in the field of reading for pleasure and reading promotion. (Contains 1 figure.) [The Thomson Corporation funded this research.]