With an abundance of (sometimes conflicting) information about Brexit and the legal industry, nobody can blame us for feeling a little confused. What will change for the legal profession when Britain leaves the European Union? Will anything change at all?
One thing is certain: the legal profession has nothing to fear, according to Lord Chancellor Elizabeth Truss. At a roundtable meeting held at the offices of Freshfields Bruckhaus Deringer last week, Ms Truss was keen to emphasise that legal services will be at the forefront of the UK’s negotiations with Europe and that a bold and bright future awaits.
Ms Truss said:
“English law is rightly renowned across the globe, making this country a great place to invest, do business, litigate and seek justice. It is in the interests of all European countries who want to do business here that we maintain civil justice cooperation when we leave the EU, so we are already working to make sure we get the best possible deal for the profession. As we enter this exciting new era, I am pleased to be working with judges and the industry to ensure we tap into all talents and continue to lead the world in the increasingly competitive legal services sector.”
Four of the world’s top ten global law firms have their headquarters in London and the legal industry boosts the UK economy by some £25 billion a year. The Lord Chancellor emphasised that the legal profession should stand ready to take advantage of the opportunities that Brexit would present it with.
Also discussed was social mobility within the legal profession and plans to ensure that individuals from all backgrounds can thrive in law.
Edward Sparrow, The Chairman of the City of London Law Society said:
“We look forward to making further significant contributions alongside the government, the Judiciary and other branches of the legal profession to improve access to justice and access to, and diversity and social mobility within, the legal profession.”