On 24 February 2022, HM Treasury published a summary of the responses received to its public consultation on the cash ratio deposit scheme which ran from 24 September 2021 to 5 November 2021. The consultation document set out the government’s proposals to replace the cash ratio deposit scheme with a levy to raise the funds to meet the costs of the Bank of England’s policy functions. The new levy would be payable by the same cohort that currently pay into the cash ratio deposit scheme and use the same arrangement for apportioning costs to those that pay. HM Treasury reports that overall respondents supported the proposed new levy. Respondents also raised many of the same themes in their responses – the cohort of payers, the implementation and operation of the proposed levy and alternatives to the levy.