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The Independent UK

Business

Vicky Shaw

Financial lifeboat scheme expects to pay £363m in compensation in 2024-25

PA Archive

A financial lifeboat scheme has said it expects to pay £363 million in compensation during 2024-25.

The Financial Services Compensation Scheme (FSCS), which is funded by the financial services industry, said the total levy payable by firms for the 2024-25 financial year amounts to £265 million, marking a small decrease from the final 2023-24 levy of £270 million.

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