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No matter what you do with it, if it is not in your clients best interest then no matter how much you tweek...its still rubbish.

I'd say, compulsory BTE (coupled with the removal of panel firms and open the market - none of this brown envelope shenanigans).

Remove CMC's and ABS's from the market.

Only qualified (Ilex/Solicitors) can do the work at the hourly rates. All unqualified/secretaries paid as part of the hourly rates (remove factory firms and increase qualification)

Have a central Cost agency where all costs are assessed by one set of Solicitors (remove the need for cost lawyers) and a fair price paid - appeals can be heard by judges.