What next? IOUs?
The Legal Services Commission (LSC) has notified the Law Society that it will be delaying payments to solicitors due in March until the start of the next financial year in April. This is due to the ‘cash position’ in which the LSC finds itself due to obligations demanded of it by the Ministry of Justice (MoJ).
It’ll be interesting to see whether this is just an isolated case of mismanagement by our betters, or whether it’s the beginning of something ominous.
UPDATE: Apparently this problem has been brewing for some time, and the government is addressing it by axing the LSC. That said, I wouldn’t be surprised to see more and more stories like this in the coming months as the government finds it harder to raise money.