PhonepayPlus consults on Business Plan & Budget 2012/13
2 December 2011
PhonepayPlus, the UK regulator of premium rate services (PRS), today issued a public consultation on its Business Plan & Budget for the financial year 2012/13.
Following the successful launch of the new Code of Practice (Twelfth Edition) and industry-wide Registration Scheme in 2011, PhonepayPlus’ priorities in 2012 include:
- Effectively embedding the new Code and Registration Scheme to ensure that they deliver the expected benefits for both the UK PRS industry and consumers. This Code is marked change from all that have gone before and is a considerable undertaking;
- Strengthening the collaborative and pre-emptive approach to regulation, working with industry to drive up compliance with the Code and increase consumer confidence in the UK PRS market; and
- Keeping pace with technological and market development, creating a regulatory environment in which innovation can flourish whilst new consumer risks are effectively identified and dealt with. This includes new potential risks emerging from 'in-app' billing and mobile malware.
In line with PhonepayPlus’ objectives set out in its Three-Year Strategic Plan published earlier this year, PhonepayPlus aims to maintain its effectiveness as a regulator whilst continuing to drive down the costs of regulation. The core budget for 2012/13 reflects this continued drive for efficiencies. The proposed core budget of £3.74 million reflects a 1.5% cash reduction (6.5% decrease in real terms) compared with this year’s budget. Together with the 13.2% reduction in the regulator’s core budget this year, the 2012/13 proposed core budget equals an almost 20% real terms reduction in costs over two years.
The Registration Scheme budget is presented as a separate budget in the consultation published today and views are sought on the calculation of the Registration Fee in the coming financial year.
Sir Alistair Graham, Chairman of PhonepayPlus’ Board commented:
"The philosophy underpinning this budget is one of continuing to engage with and listen to both industry and consumers, to develop effective regulation, with our key characteristics of being an independent, non-statutory and industry-funded regulator. The budget ensures that we are able to maintain our capacity for responding to technological change in the market, so that we can support innovation whilst also tackling emerging consumer risks. Good examples are our recent and ongoing work on in-app billing, malware and micropayments."
The deadline for responses to the consultation is 20 January 2012. The full draft Business Plan & Budget for 2012/13 can be viewed here.