Ofcom to cut budget by more than 20 per cent in coming year
Regulator announces savings of around £26.7 million to be made across a 'range of expenditure'
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The total budget for broadcasting regulator Ofcom is to be cut by more than 20 per cent over the next year as it makes savings of more than £26 million. In an announcement today the regulator said that savings are to be made across a "wide range of expenditure".
Its total budget for 2011/2012 is £115.8 million, according to Ofcom, and a 22.5 per cent cut in real terms year-on-year equates to £26.7 million.
The cuts follow a review launched by Ofcom last year to identify where expenditure savings could be made, prior to the government's own spending review, as well as a yearly effort to reduce its budget. Ofcom's new budget also outlines a reduction in headcount, with a total of 170 posts having been made, or to be made, redundant since October last year. The majority of these job posts have already been cut.
Over the next four years the regulator will reduce its total budget by 28.2 per cent, with most of the cuts due to take place in the first year.
"By planning early Ofcom identified and made a number of efficiency savings within the financial year ending 31 March 2011," the regulator said in a release.
Ofcom added that it is due to publish its Annual Plan for 2011/2012 "shortly".
