PSA launches business plan and budget for 2018-2019

• Further 4% real terms reduction in cost of regulation announced.

• Overall cost of regulation has been reduced by 20% in real terms over three years.

• Target to keep total funded by industry levy at or below £1,875,000 met and exceeded.

• Adjusted levy held at 0.44%.

• Business plan amended following consultation with stakeholders.

The Phone-paid Services Authority (PSA) has announced its budget and business plan for the coming financial year, after formal approval by Ofcom and consultation with stakeholders.

The PSA’s budget for the 2018/19 financial year is £3.85 million, representing a 4% reduction in real terms on 2017/18 and cash flat. This means that the overall cost of regulation has been reduced by more than 20% in real terms over the past three years.

The amount funded by the industry levy been reduced to £1,800,000, meeting our target of holding this figure at or below £1.875 million until 2020/21. The adjusted industry levy remains at 0.44%.

The adjusted levy is based on estimated network outpayments of £410 million. 

Following consultation, the PSA has also adjusted the business plan in line with feedback from stakeholders. Changes include:

• A policy review of subscription services.

• Published guidance on retention of information and data in light of the GDPR.

• Greater clarity on the PSA’s exemptions policy.

• Reviewing the possibility of allowing consumers greater and more user-friendly access to registration data.

• Clarity on refund mechanics.

Four consultation submissions were received (Action4, aimm, Caller Support Limited and Paul Muggleton) and the PSA’s Statement following consultation is here. The business plan and budget for 2018/19 can be read here.