Well let's see how far we get with the information available.
The budget in the current year is 15.6 million pounds and we are told that savings of 1.3 million are needed. So the budget for 2011/12 can't exceed 14.3 million.
A pound today was worth 68.1 pence in 1997, so a maximum budget for next year, at 1997 prices, would be 14.3 x .681 = 9.74 million.
We need to compare that 9.74 million to the 1996/97 actual budget..........
Anyone have the 1996/97 budget to hand?
