Regulator tightens belt to nearly halve costs

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Jul 14, 2017
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Neil Buckley, chief executive of the Legal Services Board, presided over a £470,000 underspend last year

The cost of the legal profession’s overall regulator has tumbled by nearly half in the last seven years, figures published yesterday have shown.

The Legal Services Board, the profession-wide regulator in England and Wales, cost lawyers an average of £18.38 each last year, about 45 per cent less than the £34.38 the organisation cost per practitioner in 2010-11.

The board’s overall budget for last year was £3.998 million, also significantly down from £4.931 million seven years ago. Indeed, the organisation reported an underspend of more than £470,000 last year on its projected budget. However, that underspend was significantly less than the figure for the year before of £711,000.

According to the board’s annual report, the belt tightening resulted from holding staff posts vacant for “an extended period”. It also adhered to the 1 per cent cap on pay rises that operates across Whitehall departments.

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