We’re calling for the UK government to use its autumn budget 2024 to:
Legal services are an economic powerhouse, worth £60 billion each year to the UK economy.
The sector is a commercial force multiplier, as the advice solicitors provide is essential in allowing other businesses to function effectively, overcome day-to-day issues and focus on driving the economy.
As employers, law firms can be found in every region, city and town across the country, helping to break down barriers to opportunity. Over 1% of the UK workforce is employed by legal services.
The sector is also uniquely productive, with an average contribution per employee of £100,500 – almost double the national average.
The prosperity our sector creates is not limited to a single city or region. Growing legal hubs can be found from Bristol to Newcastle, creating secure, well-paid and skilled jobs for local people.
There are over 73,000 solicitors work outside London and this figure is growing, having increased by more than 16% between 2009 and 2019.
Beyond our own borders, legal services are a national champion and one of the UK’s most valuable exports.
The UK is the second largest legal market in the world, with total exports of UK legal services reaching £7.25 billion in 2022, while English law governs substantial amounts of global trading, including £545 trillion in over-the-counter derivatives transactions and £10 trillion in metals trading.
Meanwhile, our justice system and the lawyers within it are integral to keeping our streets and communities safe.
At the police station, duty solicitors provide representation, making sure cases move through the system quickly and that victims, witnesses and defendants alike can access justice.
However, backlogs in the courts, crumbling buildings and unsustainably low levels of legal aid funding all reverberate across our society.
The recent violent unrest emphasised how critical it is that our justice system can act and at pace, as a credible deterrent and keep people safe.
We have commissioned research and analysis, carried out by YouGov and the Centre for Economic and Business Research, which highlighted the barriers legal businesses are facing in achieving their full economic potential.
This research revealed that the top issues facing SME firms are:
The package of reforms we’re advocating for is designed to build on the existing economic strengths of our sector, while unleashing the latent productivity and economic potential of the sizeable SME segment of the legal services sector.
Autumn budget 2024 – representation from the Law Society (PDF 332 KB)
As the professional body for solicitors, we amplify the powerful collective voice of more than 200,000 solicitors and your diverse experiences and backgrounds by advocating at the highest levels on the issues you’ve told us matter most.
Whether influencing the government on key legislation and reform, leading the way on professional ethics, securing overseas market access or engaging with regulators, we champion your interests and make sure your views are heard by decision makers at the highest levels.
