Legal aid debt interest rate changing
The interest rate charged on legal aid debt will change on 22 November 2018 for the first time since 2013.
The Legal Services Amendment Regulations 2018 replace the rate of 8% which was set in 2013.
The new interest rate is "the rate that, at that time, is the default public sector discount rate published by the Treasury as a percentage."
The Treasury Discount Rates state that the "default rate (for projects that are difficult to categorise including regulatory proposals):" is 6%.
This is now believed to be the rate from 22 November 2018 for interest on legal aid debt.
Last updated on the 16th September 2019