FSCS publishes its Plan and Budget 2013/14

6th February 2013

Total levies of £311m and PPI claims increase

The Financial Services Compensation Scheme (FSCS) today publishes its Plan and Budget: 2013/14, which provides its early assumptions about future claims and indicative estimates of its levies on financial services firms for the coming financial year.

In 2013/14, financial services firms are likely to pay a total levy bill of £311m to cover costs, which excludes the costs of the major bank defaults of 2008. That compares with total levies so far in 2012/13 of £265m.