Phonepayplus consults on business plan & budget 2011/12

3 December 2010

PhonepayPlus today launches its consultation on its draft Business Plan & Budget for the financial year 2011/12.

2011 will be a milestone in the regulation of premium rate services (PRS), with the introduction of a new Code of Practice and the launch of a new industry-wide Registration Scheme. The successful implementation of the new Code and Registration Scheme should lead to an increase in regulatory compliance, bringing benefits to consumers and the PRS industry alike.

At the same time, the proposed Business Plan & Budget takes account of the ongoing challenges faced by business and the PRS industry from the difficult economic climate.

The proposed PhonepayPlus budget for 2011/12 again reflects this need to provide both effective and efficient regulation. The proposed budget of just under £3.8m is a real terms decrease of 13.2% on the 2010/11 budget and a reduction of 10% in cash terms. Taking this into account, and following budget reductions in the previous two years, PhonepayPlus will have reduced its costs by 20% over four years by the end of 2011/12.

2011/12 will also be the first delivery year of PhonepayPlus’ Strategic Plan 2011/14, which reflects a continued commitment to regulate the PRS market proactively, working with the industry to pre-empt and prevent consumer harm. The Strategic Plan 2011/14 will be published shortly.

Sir Alistair Graham, Chairman of the PhonepayPlus Board, said:

“2011 looks like being a landmark year for the PRS market, with long-requested and much-anticipated changes in the way services are regulated. It is our hope that, by continuing to evolve and develop our approach to regulating the dynamic PRS market, we can continue to bring substantial benefits to consumers and grow confidence in the PRS sector, creating the right conditions for investment and growth. We also expect the new regulatory framework that we are introducing to strengthen compliance in the market, and PhonepayPlus will continue to drive efficiencies in the costs of regulation over the full period of our new Strategic Plan for 2011/14.”

Click here to view PhonepayPlus’ consultation on its Business Plan & Budget for 2011/12.]