Hm Treasury
November 8
14:00
2023
On June 7 2022, the government confirmed its intention to proceed with a levy-based arrangement to replace the Cash Ratio Deposit scheme. Doing so ensures that the income received by the Bank is in line with its forecast expenditure, provides increased certainty to the Bank on its overall funding and increased certainty to deposit-takers over the size of their annual contributions.
The government is now consulting on draft legislation that sets out which institutions are required to pay the levy and how the levy is apportioned. This consultation asks for stakeholders views on the drafting of that legislation. It should be read in parallel with the Bank of Englands consultation.
