FSCS expects 2027/28 levy to hit £360m

While it confirmed its £247m levy for 2026/27 would remain unchanged, with no additional levy expected, next year's bill would be higher. The lifeboat fund said it now expected to recover £43m from failed firms and relevant third parties by the end of the current financial year, an increase of £10m on its estimates in May. It said the majority of recoveries would be used to "offset the levy, reducing the amount firms need to pay". It said this, as well as the use of surpluses and "disciplined cost management", had helped maintain the levy position. Compensation costs for 2026/27...