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Ah, but you forget - this will not affect the fees of counsel who will continue to charge whatever they think they can get away with. The impact - if any - will fall on solicitors who will have to continue to meet all disbursements out of the total allowed. Or more likely, in commercial cases they will simply tell their clients that there is a cap on what they will recover back from the other side if they win and the clients will simply have to meet the shortfall themselves. Probably not much of a deterrent if you are claiming £20m against likely costs of £1m and the judge says you can only recover £500K if you win but will only be at risk of £500k for the other side if you lose.