This provided revised costings:
the higher cost estimate of the Bill for the six years 2025-26 to 2030-31 decreased from £33.4 million to £21.6 million - a reduction of £11.8 million; this decrease was largely based on the estimated pension shortfall payment being revised down by £15 million, a fall in estimated restructuring costs, and moving commencement from 1 October 2026 to 1 April 2027
this is offset slightly by new cost related to IT (a one-off cost of £4 million)
the revised costs also include a recurring cost related to employer pension contributions of £1 million per year; over time, this will more than offset the reduction in the estimated costs of the pension shortfall payment
the revised lower cost estimate projects a saving of £1 million - down from the initial projection of £3.1 million.