FSCS levy intake up by £39m during 2023/34

Released today (31 July), the report stated that during 2023/24, the FSCS service was funded by levies from by 41,826 regulated financial services firms. Its total levy income was £473m in 2023/24 which was £39m higher than in 2022/23. The FSCS however recovered more than £54m from failed firms which was used to offset future levy costs, the report showed. It stated: "As much as we focus on positive outcomes for consumers, we're also conscious of our responsibility to our levy payers." In May this year, the FSCS revealed that is annual levy for the 2024/25 financial year will be...