The Financial Ombudsman Service (FOS) believes the unit cost of handling complaints has fallen drama...
The Financial Ombudsman Service (FOS) believes the unit cost of handling complaints has fallen dramatically since November 2001 from £730 to £688. The service is looking to cap the unit cost of handling complaints at £688 for the next financial year. It is proposing a budget next year of £28.2m, which it said is constant in real terms compared to the current year's budget of £27.6m. It is forecasting a similar volume of work next year with around 250,000 enquiries and investigations into 40,000 disputes, although projections are also made for a possible 10% increase or decrease in complaints.
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