So far, the amount of funds dedicated to tackling Y2K problem worldwide has been estimated at £60b. As we approach the millennium this expenditure is expected to increase significantly. The average expenditure on Y2K problem, as a percentage of organisations' IT budget, has increased from 5% in 1997 to 29% in 1998 (until November). This year, this figure it is expected to increase to 44% (Gartner Group). The figures for individual companies indicate that the 2000-compliancy is a costly undertaking. For instance, BT has already spent £350m which is anticipated to increase to £500m.
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