Emma RadmoreFCA is consulting on additional funding by way of debt levy advice rates. The DWP has told it that an additional £14.2m for MaPS to provide debt advice in England in 2020/21. Treasury has also asked for a further £2.087m to be collected for the provision of debt advice in the devolved authorities. The increase reflects the additional capabilities the sector will need to respond to the Covid-19 crisis.
FCA proposes to allocate the funding levy to the same fee blocks, on the same basis, as it did in its previous consultation and in 2019/20.
Consultation closes on 30 September.