Published: 09/05/2002, Volume II2, No. 5804 Page 6

The King's Fund is to make£1.15m of cuts in 2003 and has not ruled out making redundancies in response to a downturn in the stock market in the past two years. It is also undertaking a strategic review to give a 'clearer focus' to its work and potentially increase the income of the charity.The charity is reassessing its£2m annual grants programme, which hands out cash to voluntary groups involved in health promotion projects.The charity said redundancies had not been ruled out, but promised to consult on any proposals.The review will have no direct effect on the King's Fund's spending plans for 2002, the charity stressed.