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BBC set to tackle £2 billion pension fund deficit

While the announcement in April 2008 that the BBC pension scheme was around £470 million in deficit caught the headlines and concerned many members of the scheme, experts predict that figure is now nearer £2 billion after subsequent stock market falls. As a consequence the corporation looks likely to reduce its programming budget by millions of pounds in order to try and alleviate the growing pension-fund problem.

This comes at a time when the BBC's licence fee is at the centre of significant speculation with regards to its future and how funding for the BBC can be increased. In a very clever piece of PR work we have also seen the expenses and remuneration packages of key BBC executives issued to the press, with many suggesting this is an attempt to take the heat of MPs expenses. The BBC has come under growing pressure from the political arena with many believing that the corporation is too close to the Labour government and guilty of potential political bias.

There have also been various issues regarding a number of speculative ventures which have so far yet to attract significant audience figures to break even. Quite how the issue of the BBC licence fee will be resolved remains to be seen but the finances of the BBC appear more shaky now than ever before.

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