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The Bank of England is today announcing the results of a Value for Money review aimed at improving the efficiency and effectiveness of the Bank’s support division - Central Services - and to allow more resources to be devoted to the Bank’s expanded range of responsibilities.
Published on
31 January 2014
The review looked at staff deployment and direct expenditure and has identified savings of around £18m by 2015/16 (around 10% of the spend reviewed). Funds released through this review will be re-invested across the business in order to support delivery of the Bank’s statutory objectives.
Press release