Dear Member,
As advised in my preamble to the October Financial Statement, the Committee is actively engaged in identifying judicious ways in which to lower Members’ Funds, which are considered to be in excess of that prudently required to address unforeseen events/costs.
As part of this programme, the Committee is pleased to announce the SUSPENSION of the 10% levy to Members’ Funds applied to competition entry fees. This will have immediate effect, starting with today’s SVOOM competition, and remain until the end of January 2025. Any decision to re-instate the levy, and its level, will be made by the 2025 Committee based upon circumstances at that time.
The Committee recognises that those Members who support Committee organised competitions have created the surplus in Members’ Funds and regard the suspension of the 10% levy to be a direct way of specifically rewarding those Members.
Matt Wake
On behalf of the Committee
