The Monetary Ombudsman Service is planning to take care of its levy for 2025/26 on the £70m whole set this monetary yr.
The FOS is consulting on the proposal, with its price range anticipated to develop by 15% to £292m because of a excessive general workload, though insurance coverage circumstances are anticipated to stay steady.
Revenue is predicted to rise, by £30m to £242m, primarily because of charges on resolving extra circumstances. The shortfall between expenditure and revenue is to be met by dipping into reserves.
Within the present monetary yr, motor and residential grievance ranges have been within the FOS’s crosshairs.
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