psr-annual-plan-2024-25_accessible_final.pdf

Here are the key points summarized:

Protecting Competition and Innovation

• Protect existing competition
• Identify ways to enable more competition and innovation across regulated systems

PSR Panel

• Valuable input from expert advisors representing diverse payment user and provider interests
• Supports understanding of policy impact, developing solutions, and identifying emerging trends

Annual Plan and Budget 2024/25

• £28.0 million budget
• Modest increase due to expanded workforce
• Operating costs: staff, professional fees, training, events, recruitment, and other non-staff costs

Organisational Development

• Attracting and retaining diverse and high-performing workforce
• Investing in developing skills, knowledge, and experience of people
• Improving internal processes and systems to support growth

Budget Breakdown

• Staff costs: £19.7 million
• Professional fees: £3.4 million
• Training, events, recruitment: £0.8 million
• Other non-staff costs: £1.6 million
• FCA recharges: £1.8 million
• Total: £28.0 million