The Solicitors Regulatory Authority (SRA) has proposed a 12% rise in its budget, which is mainly funded through solicitors’ practising certificate fees collected in October
The SRA’s draft business plan and budget 2023-24, which closed for consultation last week, would raise the total sum collected from practising certificate fees from £60.5m last year to £67.6m in the October 2023 round.
The draft plan confirms the element of the fee used to fund the SRA would rise to £162 from last year’s £151.
Law Society president Lubna Shuja said: ‘Given that many firms are facing inflationary pressures, it is vitally important that the SRA is focused on efficiency savings and costs are controlled.’
