In consequence of the outcome of the Quinquennial Review no changes to funding in the current or next financial year are being made, while funding for subsequent years will be decided in the next spending review. We do not expect the urban development corporations to make any redundancies as a result of the review.
All three development corporations are already participating in the Government's operational efficiency programme, which could yield cumulative savings across their operating costs of £8 million in the period to 2013-14. Increased joint working, delivery and shared services with partners in west Northamptonshire should achieve additional cumulative savings of at least £1 million by 2013-14. Further savings will arise in due course from the transfer of Thurrock Thames Gateway Development Corporation to the HCA but it is too early to estimate what these will be as it will depend upon when, for example, operating systems can be harmonised.