P20 of the guidance confirms that, at the end of Stage 2, awards may be:
- made at the level requested
- made at a lower level
- not awarded, for those who are unsuccessful.
Organisations are able to change their financial ask between stages until a full financial assessment at Stage 2.
At the end of Stage 2, any organisation offered less than their request would enter a period of negotiation where they’ll be able to consider whether to accept the offer made and adapt their plans accordingly. The final 6 months of the timeline (Oct 24 to April 25) is allocated for this process.