The BSA welcomes the opportunity to respond on behalf of its members to the FOS’s discussion paper on creating a funding model for the future. It is helpful and encouraging that the FOS is seeking views at this stage in advance of its formal consultation.

We agree that there is scope to build on the existing principles, and expand on those in response to Question 1.

However, as we have consistently pointed out, in our view the FOS is not currently meeting its existing funding principles in two critical aspects:

• That the Service should be fair, and
• That costs should be broadly proportionate, with the businesses which generate the most work paying the most for the service.

Read the full response here