"Cost cutting to psychotherapy service"

I was seeing a psychologist for several months. I was referred by my psychiatrist.

The psychologist wanted to discharge me, but offered me an open appointment for 6 months post discharge, should I need more immediate help.

On my final appointment, the psychologist informed me he had been told by his line manager that he could not hold my case open as his hours were being cut. I was shocked and astounded, particularly as recent research had shown that "talking therapies" gave more permanent improvements in patients' mental health, and was far more cost effective too the Health Service than repeated emergency admissions too psychiatric wards.

Please explain this glaring anomaly.