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But Paramount agreed to accept Skydance’s input on big-ticket expenditures while the two sides wait for the deal to close.

That implies an estimated cut of 1.3% in real terms for other items of expenditure.

In perhaps the most embarrassing climb-down by Trump, on Jan. 29 his budget office rescinded a memo freezing billions of dollars in expenditures by federal agencies — just a day after it had issued the memo.

Would competition be more level across all teams, and expenditure lower if rules existed for longer periods without change?

This compares well with expenditure by most of the club's rivals, external over that period.