FCA reveals budget increase for 2017/18

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The Financial Conduct Authority (FCA) has budgeted for a total annual funding requirement of £526.9m for 2017/18, according to its Business Plan for the year.

This is a rise of 1.5% compared to the total annual funding requirement of 2016/17, which was £519.3m.

The regulator further budgeted for operating costs of £508.0m for next year, compared to £502.9m in 2016/17.

According to the FCA, payable fees for the year will be £475.3m, which is £4.7m more than the figure for last year.

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