FSCS to need £104m operating budget for 2025/26

In its latest budget update posted today (10 January), the FSCS outlined its proposed 2025/26 management expenses. To ensure it has the funding to meet its running costs and carry out its core functions, it anticipates requiring an annual operating budget of £103.6m.  The FSCS said the total levy for 2025/26, which includes both FSCS's management expenses and estimated compensation payments, remains as the forecast in its November's outlook at £394m. The budget also confirmed that the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are consulting on...