Ofcom Faces Budget Cuts

Ofcom has just announced a significant reduction in its budget for 2011/12.
The independent regulator and competition authority for the UK communications industries - with responsibilities across television, radio, telecommunications and wireless communications services - has identified significant expenditure savings in response to the challenge facing the public sector more generally.
Over four years to 2014/15 Ofcom will reduce its total budget by 28.2% in real terms, but, in a drive to reshape and refocus the organisation, the majority of the cuts will be made in year one.
In 2011/12 Ofcom's total budget will be £115.8m. This is a 22.5% real terms year-on-year reduction, some £26.7m.
Ofcom is funded by a mixture of government grants for specific activities and fees from the stakeholders that it regulates.
(BMcC/GK)