FSCS sets £108m budget for 2026/27 as costs fall in real terms

In a budget update published today (13 January), FSCS said management expenses for 2026/27 will comprise £97m of core costs – a 6% reduction on the previous year, alongside £11m to enhance its revolving credit facility (RCF). Excluding the RCF element, the budget is down 6% year on year and 11% in real terms. FSCS also confirmed that its 2025/26 budget remains unchanged, with the latest forecast standing at £108.6m, including an unlevied contingency reserve of £5m. The scheme said it does not expect to invoice firms for that reserve. The additional £11m earmarked for the RCF is intend...