FSCS sets management expenses budget of £99.8m for 2023/24

Latest budget update released for day-to-day running costs

Jenna Brown
clock • 2 min read

The Financial Services Compensation Scheme (FSCS) has set its 2023/24 management expenses budget at £99.8m, according to its latest budget update.

The compensation body also said its latest forecasted management expenses for 2022/23 totalled £89.2m. The figures account for the FSCS's day-to-day running costs, as well as costs associated with processing claims, it said. The total levy for 2023/24 - which includes both management expenses and estimated compensation payments - remains at a projected £478m. The lifeboat fund added that the Financial Conduct Authority and Prudential Regulation Authority would consult on an overall 2023/24 management expenses levy limit of £109.8m. It explained this included the proposed FSCS's ...

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