budget

Investment advisers may contribute almost £15m towards the day-to-day running of the Financial Services Compensation Scheme (FSCS) in 2014-2015.

The Financial Ombudsman Service (FOS) plans to freeze the levy it collects from firms and cut its budget by 20% over the coming year.

Caroline Rookes, the chief executive of the Money Advice Service (MAS), has hit back at critics of the organisation, saying the MAS is now delivering a "very effective" service and does not "step on the toes" of financial advisers.

The industry-funded Money Advice Service (MAS) has ignored calls by MPs to cut its marketing budget, saying it needs the multi-million pound pot to "encourage people to take action" on financial matters.

MPs have called on the Chancellor to return to giving just one Budget statement a year.

The UK Chancellor's 2011 Budget speech was set against a backdrop of very tight finances, a spluttering recovery and rising inflation.

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It took George Osborne a little under one hour to deliver his second package of measures as Chancellor today.

Chancellor George Osborne has refused to scrap the 50p tax rate on high earners in this month's Budget, despite pressure from the City and Conservatives.

The melting-down and recasting of the FSA to form two new regulatory bodies will cost £12.3m between 2010 and 2012, it was revealed today.