FSA to spend £306m on staff costs in 2009/10

It anticipates hiring more than 280 extra staff, taking it beyond 2,800 employees, to help it carry out its Supervisory Enhancement Programme, set up in the wake of the Northern Rock debacle. Of the forecasted total budget of £415m for 2009/10, it anticipates £306.4m will be spent on staff costs which it says includes travel, training, recruitment and pension scheme deficit reduction contributions. The budget, which will be finalised in April, is up £117m on last year, and the FSA says around £70m of that is due to "the cost of embedding and delivering higher quality supervision". Add...