What is the actual FSCS levy for 2008/09 compared the levy consulted on?
In CP08/02 we consulted on setting the FSCS Management Expenses Levy Limit (MELL) at £30.24m for 2008/09 – not the management expenses levy itself. The management expenses levy is separate to the compensation levy, which is also not consulted on and which forms the main component of the FSCS levy on firms. We published the feedback on responses to the proposed MELL within the FSA Handbook Notice 75. Having considered the responses received, we have decided to set the limit on the FSCS Management Expenses for 2008/09 at £30.24m, unchanged from the proposal we consulted on. The FSCS has confirmed (in it’s Plan and Budget 2008/09) that its actual management expenses budget for 2008/09 will be £24.74m – for further information please see the FSCS Plan and Budget 2008/09.
