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We find that a greater marginal cost saving is required for a horizontal merger in a composite good industry not to increase prices as compared with a horizontal merger in a regular good industry.
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An unprecedented amount of savings is required.
The scale of these savings is requiring the BBC to carry out a fundamental assessment of the resources needed to deliver the BBC's objectives, rather than simply chipping away at the existing cost base.
"If year-on-year efficiency savings are required, that needs to be specified in the contract".
All the parties know that significant savings are required to get the UK back to a fiscal equilibrium following the unique shift in government debt to bail out financial services.
The council preferred to "prioritise those services for which it was responsible" at a time when significant savings were required.
The authority said the savings were required to absorb reductions in government funding coupled with the rising costs it is facing.
A report to Abertawe Bro Morgannwg University Health Board says £46m of savings are required and the Welsh government will be asked for more cash.
Council leader Colin Glover said: "Substantial savings are required, but despite spending pressures, we've frozen council tax for two years and taken steps to protect services.
When efficiencies are considered, higher marginal cost savings are required for a horizontal merger in a composite industry not to result in a price increase as compared with those required for a regular industry.
The letter, from the Education Funding Agency (EFA), was sent on Tuesday and says savings are required from the 16-to-19 16-to-19 16-to-19"to contributeducationcing the overall pubudgetector budget deficontribute
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com