UK regulator Ofcom has unveiled plans to reduce its budget by 28.2% in real terms over the next four years, with the majority of cuts to be made in the first year.
Ofcoms budget for 2011-12 will be Â£115.8 million (Â131.4 million), representing a 22.5% reduction in real terms. The regulator has already identified a number of efficiently savings, while other savings will result from the change in responsibilities for the delivery of digital participation and delays to the implementation of measures in the Digital Economy act.
Ofcom said that the saving against budget, along with the lower budget for 2011-12, would contribute to lower regulatory fees for its stakeholders and a reduced cost to taxpayers through lower government grant payments.
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