The legislation passed another stage in the Assembly yesterday without amendment (very much as we had suggested in the previous blog). There was broad support for the reforms it will bring to the discount rate and universal support for getting on with this quickly (despite the six month Committee Stage, from March to October). IF no further amendments are tabled, the next stage will be taken without debate and the Speaker would signify that Final Stage debate may proceed.
Some of these next steps could be taken in the month or so before the Christmas recess so, standing back from the detail, it remains realistic to envisage a new discount rate taking effect in the second quarter of 2022.
[Yesterday’s debate is reported from page 45 of the Assembly Hansard here]
Written by Alistair Kinley, Director of Policy and Government Affairs at BLM