GTC budget and financial strategy

last updated:26 Jan 2010

The GTC's Council met today to consider its budget and financial strategy for the next three years.

Council reviewed the planned programmes of work for 2010-2011, agreed in January 2009, and noted particular new cost pressures in relation to a higher volume of casework referrals.

Council agreed that in order to ensure financial viability, it should return to its standard position of holding three months' expenditure in cash reserves as the GTC currently has no powers to borrow or to charge for services other than the registration fee.

Council agreed a planned expenditure budget based on an income of £23m for 2010-2011 and authorised the Chief Executive, in consultation with the Chair of Council, to seek the approval of the Secretary of State for a new fee level not exceeding £39 for 2010-2011. The GTC also expects to confirm fee levels for 2011-12 and 2012-13 in the next few weeks once discussions with the Secretary of State have concluded.