PSR publishes annual plan and budget

The PSR has published its annual plan and budget for 2025/26, highlighting its work in the coming year as it approaches consolidation with the FCA.

In the meantime, the PSR retains its remit and powers pending consultation. Its priorities include:

• Completing work on protecting users, and promoting competition and innovation;
• Progressing work to upgrade Faster Payments, and reform Pay.UK, in collaboration with the BoE; and
• Assessing other long-term retail infrastructure needs.

The budget for 2025/26 is £28m, as it was in 2024/25.