UK regulator wants above-inflation budget increase

The Financial Services Authority (FSA), Britain's beleaguered regulator, has asked the government for an extra £21.3m ($41.8m) for the 2008/ 2009 financial year.

The additional funds represent a 7.1% rise in last year's expenditures, five percentage points higher than British inflation.

The Business Plan 2008/09 notes the major components of the increase as an investment of £5.9m in the enhanced supervisory strategy for small firms and an investment of £3.5m in the European Alternative

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