23. Provisions
|
Property
provision
£m |
| At 1 January 2008 |
2.6 |
| Utilisation |
(0.7) |
| Additional provisions in the year |
1.3 |
| Unwinding of interest on discounted provisions |
0.1 |
| At 31 December 2008 |
3.3 |
The property provision is made on a discounted basis for the future rent expense and related cost of leasehold property (net of estimated sub-lease income) where the space is vacant or currently not planned to be used for ongoing operations. The expectation is that this expenditure will be incurred over the remaining periods of the leases which range from 1 to 6 years.