On 10 April 2025, the Prudential Regulation Authority (PRA) published Consultation Paper 8/25 ‘Regulated fees and levies: Rates proposals for 2025/26’ (CP8/25).

CP8/25 is the PRA’s annual consultation on regulated fees and levies. The PRA’s Annual Funding Requirement (AFR) for 2025/26 is composed solely of the budgeted cost of Ongoing Regulatory Activities (ORA). The proposed ORA for 2025/26 is £328.7 million, a decrease of £2.6 million (0.8%) from 2024/25. This figure is provisional and may need to be revised when final estimates for the PRA’s costs are available. The PRA’s proposed Total Funding Requirement (TFR) for 2025/26 is £342.5 million, a decrease of £10.5 million (3%) from 2024/25 (£353.0 million). The TFR is composed of the AFR and other fees to industry.

Next steps

The deadline for comments on CP8.25 is 9 May 2025.

The PRA proposes to implement the changes resulting from CP8/25 on 2 July 2025.