FOS forecasts levy freeze at £70m
The Financial Ombudsman Service is planning to maintain its levy for 2025/26 at the £70m total set this financial year.
The FOS is consulting on the proposal, with its budget expected to grow by 15% to £292m due to a high overall workload, although insurance cases are expected to remain stable.
Income is expected to rise, by £30m to £242m, mainly due to fees on resolving more cases. The shortfall between expenditure and income is to be met by dipping into reserves.
In the current financial year, motor and home complaint levels have been in the FOS’s crosshairs.
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