BBC spending to be cut by 20% in real terms over five years, says OBR

Office for Budget Responsibility analysis predicts decline in spending from £3.9bn to £3.5bn by 2020 as BBC covers cost of free TV licences for the over-75s. The OBR predicts BBC spending will fall by about £400m from £3.9bn this year to £3.5bn in 2020/21 as the BBC takes responsibly for the bill in phases. The cost to the BBC at the end of the five years is expected to be £745m annually.
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