Merger of PPARC and CCLRC at fault
When STFC was formed last year it inherited a roughly 80M shortfall from CCLRC. This was meant to be sorted in the CSR but it wasn't. The merger has been botched, thanks to GB, whose idea it was in the first place as Treasurer at the time, and AD who failed to fund it in the CSR, aided and abetted by DIUS who seem to have ignored what warnings came from STFC about the damage from the shortfall.
It's a clusterfuck and while the blame gets passed around real damage is being done. Jodrell is just the start - UKIRT, the ING telescopes, the whole of ground-based Solar Terrestrial Physics and much more are on the line, and there's similar damage to particle and nuclear physics.