At a recent round of Budget reviews, Hammerson gave some early details of their initiative to cut recurring costs in their service charge budgets by £2m.  This isn’t deferring major works but cutting annually recurring costs.  Some might say, they were too high before.  That may be so but at least steps are being taken now.  If others followed with similar and challenging reviews of their cost base, it could have a material impact on service charge budgets.  Watch this space…