Ofcom annual report and accounts 2005/2006

Ofcom annual report and audited accounts (157 pages, 4.2M PDF) for the financial year 2005/2006. Expenditure was £124 million, similar to the previous year's. The number of employees has increased by 23 to 776. A surplus of £33 million was produced on income taken mainly from grand-in-aid (£89 million for spectrum, £3 million for competition law enforcement and £0.6 million for media literacy) and licence fees (for telecoms and broadcasting). After accounting for pension and property costs this was used to repay £18 million of a DTI loan, leaving £10 million due. The accounts also disclose that Ofcom cannot recover VAT incurred as part of its regulatory activities.

Filed under Media, Ofcom, Regulators.

Reckon LLP is an economics consultancy with expertise in data analysis, economic regulation and competition law.

About Reckon