Brokers hit by further FSCS levy rise of over 50%

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The news in the FSCS's Plan and Budget 2011/12 comes despite the organisation stating that its total levy bill is expected to fall from £474m this year to £240m next, a drop of 49%.

The contribution from general insurance provision has also risen to £54m (2010/11: £39.6m) meaning the combined industry bill has soared by 49% to £147.5m.

In the document the FSCS highlighted the increase in payment protection insurance (PPI) claims as a reason for the rise.

It stated: "The most significant claim

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