Financial Services Compensation Scheme

Treasury written question – answered on 14th March 2023.

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Photo of Greg Smith Greg Smith Conservative, Buckingham

To ask the Chancellor of the Exchequer, what information his Department holds on the value of compensation awarded under the Financial Services Compensation Scheme in each financial year since 2018-19.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

The overall cost of compensation awarded by the Financial Services Compensation Scheme for the years in question can be found in its Annual Reports and Accounts, which are published here: https://www.fscs.org.uk/industry-resources/annual-report-archive/ and https://www.fscs.org.uk/news/fscs-news/annual-report/.

In 2021/22, the last year for which numbers have been published, the cost was £584 million.

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