In light of the Coalition Government's Comprehensive Spending Review, the following government press release has been released, outlining what the announcements mean for the Department for Culture, Media and Sport:
"Over the course of the Spending Review period, the Department for Culture, Media and Sport will reduce overall resource spending by 24%. The core DCMS capital budget will reduce by 32%. The total administration budget for the Department and its arm’s length bodies will be reduced by 41%.
In addition the Government has agreed with the BBC that the TV licence fee will fund BBC World Service, BBC Monitoring, and S4C saving the Exchequer £340m from 2014-15. BBC and HMG also agreed that the TV licence fee will be frozen until 2016-17.
Through this, the Department are adopting ideas suggested through the Spending Challenge process, including:
Secretary of State for Culture, Olympics, Media and Sport Jeremy Hunt, said:
“To deal with an unprecedented financial deficit we have been forced to make some incredibly difficult decisions. But, in the current economic climate, this is a good settlement for DCMS’s sectors. We will deliver a safe and successful Olympics in 2012 when the eyes of the whole world will be upon us. And by cutting bureaucracy and waste and prioritising the services valued by the public we will be able to protect our sporting and cultural core for the long term.”