FSCS cuts levy to £833m as claims and firm failures delayed

The FSCS said it will provide an update as soon as possible and will give the industry 30 days' notice before invoices will be issued.

Rainbird added: “We are doing all that we can to help reduce the levy and are delaying calling for the retail pool to avoid invoicing for more than we need and to help spread the costs. 

“Ultimately, to deliver a sustainable reduction in the levy over time, all stakeholders, including the industry, need to work together to tackle the root causes of the problem, to help drive better outcomes for consumers and a reduction in the levy.”


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