§ Mr. LoughtonTo ask the Chancellor of the Exchequer (1) what is his estimate of the annual cost that the FSA will pass on to the financial services industry by way of(a) fees in respect of compliance and (b) other fees; [45753]
(2) what is his estimate of the cost of the (a) staff, (b) premises and (c) set up costs of the Financial Services Authority. [45752]
§ Mrs. LiddellThe Government intend that the Financial Services Authority should continue to be responsible for its own costs, with public consultation on its budget. It is intended that the Financial Services Authority should be required to have regard to the need to be efficient and economic and ensure that costs and restrictions on firms are proportionate to the benefits of regulation.