News
The Bar has renewed calls for an amendment to the Legal Services Bill to guarantee the profession’s independence, after a financial report that shows UK legal business contributes to 1.4% of the UK’s gross domestic product (GDP).
The latest International Financial Services London report on legal services shows legal activities amounted to £14.9bn of GDP in 2004, while net exports of UK legal services were estimated to be £1.8bn.
Incorporating the earnings of the Chancery Bar Association and a range of other legal specialisms in which barristers carry out international work, the Bar’s contribution to the value of the UK’s service exports is around £200m.
Geoffrey Vos QC, chairman of the Bar says the timing of the report is very helpful, bearing in mind the passage of the Legal Services Bill.
“It shows how important the profession’s independence is to our overseas clients,” he says. “This is one reason why the Bar is so keen to seek an amendment to the Bill, which would ensure that appointments to the new Legal Services Board are seen to be independent, and are therefore made with the concurrence of the Lord Chief Justice.”
He adds that if appointments are made solely by the Lord Chancellor, this will send out the wrong message about the impartiality of the legal profession.
