OFT stays quiet on plans for efficiency cuts
28 August 2012
The Office of Fair Trading (OFT) is keeping tight-lipped about how it will achieve 5 per cent annual savings under the government’s efficiency drive.
The OFT will initially drive towards 3 per cent annual savings as required by the Treasury in 2005-06.
This rises to 5 per cent in the following two years, according to its annual plan consultation paper.
An OFT spokesman said: “Looking at our resources, we believe we can better the 3 per cent asked by the Treasury.”
The efficiency savings on the OFT...