Our Annual Plan and Budget sets out our key aims, activities and expected costs for the year 2024/25. We publish this to provide a clear overview of what we are doing, why and how.
Our Annual Plan highlights that this year, the third of our five-year Strategy, will be an important one for consolidating the delivery of our valuable work to improve payments for people and businesses across the UK. We have already made significant progress against our strategic priorities, and our focus is now on ensuring our policies and requirements are implemented effectively. Action we're taking this year will see greater protections in place for consumers and increase competition and choice in payments for businesses.
For a quick overview of what's in this year's Annual Plan, take a look at our video below.
Our 2024/25 Annual Plan
YouTube
Our Budget
Our budget for 2024/25 is £28.0 million. This is a modest increase on our 2023/24 budget, reflecting our higher operating costs from 1 April 2024 to 31 March 2025, due to our expanded workforce.
|
Staff costs |
£19.7M |
|
Professional fees |
£3.4M |
|
Training, events, recruitment |
£0.8M |
|
Other non-staff costs (subscriptions, memberships, expenses) |
£0.1M |
|
FCA recharges: accommodation |
£1.6M |
|
FCA recharges: information services (including cyber resilience and infrastructure investments) |
£1.8M |
|
FCA recharges: other |
£0.6M |
|
TOTAL |
£28.0M |
Find out more and get involved
You can find out more about our key activities from our 2024/25 work plan.
On Thursday 9 May 2024, we are holding our Annual Plan 2024-25 event to hear from stakeholders about the plan and discuss it in more detail. Throughout the day there will be plenty of opportunity to ask us questions and participate in themed breakout sessions.