Ofcom has announced a significant reduction in its budget for 2011/12.
The cut follows an Ofcom programme launched in early 2010 to identify 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% in real terms. 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. Savings will be made across a wide range of Ofcom’s expenditure.