Letter: Cash-strapped BBC
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sir: In your enthusiasm to say how well we'd done in building up our cash balance ("BBC cash pile may stop rise in licence", 18 June), you overlooked a couple of points.
Our cash balance (pounds 235m) and the savings we managed to chalk up last year (pounds 105m) are already earmarked for funding our core services and preparing for digital take-up. Although we are determined to get a further 20 per cent out of the system in savings over the next five years, these reserves will quickly be eliminated.
The BBC is as committed as ever to its public service purpose: that of delivering to licence payers the best possible range of programmes and services. The challenge is that we face below-inflation licence fee settlements which start in the next two years (of RPI minus 1 per cent and 2.5 per cent respectively).
The impact of these is serious for public service broadcasting at a time when the industry is expecting strong growth in consumer interest in digital.
JOHN SMITH
BBC Director of Finance
London W1
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments