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The initiative was aimed at reducing fund fees, a goal Citigroup executives say was accomplished.
First, the value of assets under management has fallen with the markets, thus reducing fund managers' percentage fee in absolute terms.
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This is called "mandatory savings" -- reducing funds for a mandatory program.
By reducing funding costs, it should allow banks to increase lending to UK households and firms.
Part of this expenditure will be made up for by reducing funds for domestic programs.
It's important to weigh how dangerous a world we live in before reducing funds for an already inadequate military.
To be fair, they were even-handed, reducing funding to higher education to an even greater extent.
Earlier this month, Mr. Paterson proposed $2 billion in savings, which he would have achieved by reducing funding for a host of agencies and programs, most notably public schools and hospitals.
Why is the government eroding the already weak institutions we have for safeguarding rights, by reducing funding to the Australian Human Rights Commission and politicising it with an ideological appointee?
Reducing funding for youth services and targeting young people and neighbourhoods most in need.
The proposals include reducing funding to outside care organisations and centralising services for adults with learning disabilities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com