PUBLISHED: 14:07, Thu, Oct 1, 2020 | UPDATED: 14:13, Thu, Oct 1, 2020
The broadcasting corporation's annual report shows the Department of Culture was asked to double the BBC's borrowing limits from £1.05billion to £2.2billion during 2018 to 2019. The report added the drop in funding for free television licences for people aged over 75 had resulted in a £67million loss this year. TV licence sales also plummeted after 237,000 households stopped paying the £157.50 yearly fee.
The report said: "Our group cash balance at the end of 2019/20 is £401 million, a £67million decrease on the prior year.
"This reduction is partly due to the decline in funding for free licences for over-75s."
Rebecca Ryan, campaign director at Defund the BBC, blasted the corporation for giving presenters including Zoe Ball a pay rise of nearly £1million this year while also asking for help with funding.
She called on the broadcaster to "stand on their own two feet" and stop relying on taxpayers' money.
The BBC has come under fire for demanding extra funding (Image: GETTY)
She told Express.co.uk: "It seems a strange way to run a business where on the one hand, you are in debt and asking the Government for permission to increase your borrowing, and yet on the other hand you are handing out million pound pay-rises to failing presenters and committing multi-millions towards harassing the over-75's to force them to cough up for a TV licence that many do not even want.
"Obviously, we have seen from the figures in the annual report that 250,000 people cancelled their licence last year, and we know from our own supporters that there are many thousands more who have cancelled since those figures or who are planning to do so in the near future.
"Tapping up the government for tax payer money because licence fee payers have rejected you, whilst splashing £100 million on ‘diversity’ and millions more on prosecuting the vulnerable, is an outrage.
"Surely this is just confirmation that the BBC need to think long and hard about their funding model and start to stand on their own two feet commercially."
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The BBC said the extra funding will be spent on leases (Image: GETTY)
The annual report added the extra funding would be spent