Ofcom today announced a fifth consecutive like-for-like cut in its operating budget, as part of its continued commitment to reduce the regulatory cost on stakeholders.
For 2009/10 Ofcom’s operating budget will be £136.8m. This is an increase of £3.1m to support the new responsibility for integration of postal service regulation and the London 2012 Olympic and Paralympic Games.
On a like-for-like basis, the budget is 4% lower in real teams than for 2008/9 and 21% lower in real terms than Ofcom’s original budget set in 2004/5. This represents a cumulative saving of £117m over five years to taxpayers and licensees.
In addition to a like-for-like budget reduction, Ofcom has made significant efficiency savings during the year to 31 March 2009. This has resulted in a £3.5m saving against Ofcom’s budget for 2008/9 with the outturn being £130.2m compared to a £133.7m budget.
This money will be passed back to stakeholders by way of reduced charges in 2009/10. All sectors will benefit from reduced charges, with the greatest cash reductions in the broadcasting sector.
The tariff tables can be found at: http://www.ofcom.org.uk/about/accoun/tarifftable0910/
Ofcom’s latest Annual Plan sets out the priorities for the coming financial year.
The Annual Plan can be found at: http://www.ofcom.org.uk/about/accoun/reports_plans/annual_plan0910/