FOS sets £260m budget for 2021/22 as caseload rockets

The organisation's plan and budget also set a voluntary jurisdiction levy at £1m and a £750 individual case fee for the year - an increase of £100. It said its year‑on‑year "business as usual" costs would stay flat - with a cost base of £246m, excluding one‑off restructuring costs associated with the conclusion of its mass PPI casework, which have shifted from 2020/21 into 2021/22. Including these costs, the FOS's cost base was set at £260m.  It comes on the same day that the Institute for Economic Affairs (IEA) branded the FOS "unfit for purpose" and in need of "major reform" in a da...