Outlook November 2024
In this latest edition of Outlook, we provide an update for the 2024/25 levy as well as a first look at the 2025/26 levy forecast.
This information is accompanied by a message from our Interim Chief Executive, Martyn Beauchamp.
Please see the full Outlook report below. Our next edition will be published in the spring.
The 2024/25 levy remains unchanged at £265m
- Compensation costs for the year are now forecast at £372m, a slight increase from our May forecast of £363m.
- We’ve continued to secure substantial recoveries and we now expect to recover £33m in 2024/25.
- No additional levy is expected for this financial year.
The initial forecast for the 2025/26 levy is £394m
- We are expecting to pay £367m in compensation, similar to 2024/25.
- The levy is forecast to be higher as we expect lower surpluses to be taken forward.
- We expect to recover £32m from previously failed firms next year and this has been included in the 2025/26 forecast. Any recoveries made are used to offset the levy.
Further industry updates will be provided in our January and spring 2025 publications. For more information, please see the full report below.
Full Outlook report
Outlook November 2024
Contains an update for the 2024/25 levy as well as a first look at the 2025/26 forecast.
Outlook archive
Copies of Outlook going back to 2015, downloadable in pdf format.
Further reading
Martyn Beauchamp's statement
Martyn reflects on the previous year and looks forward to the next.
Video - Outlook explained
Interim CEO Martyn Beauchamp and Head of Communications Emma Barrow discuss the latest levy forecast.
Podcast - How is FSCS funded?
Listen to further information on our levy and recoveries.
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