Proposed NI discount rate legislation set to meet resistance in Assembly?

Last week, the Justice Committee of the Assembly held a further hearing with officials from the NI Department of Justice (DoJ). The debates and questioning moved forward from the indications given at the previous hearing on 22 October (i) that the Department proposed to accelerate the passage of legislation to set a new legal framework for the discount rate and consequently did not intend to set an ‘interim’ rate using the 1996 Act and (ii) that Members’ (MLAs) initial view was to resist accelerated passage. The view among MLAs looks now to have hardened against accelerated passage for the new Bill, which could be a real problem for the DoJ in delivering a rate based on a new framework in the second half of next year.

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