The Value of the UK Legal Sector | IPT
Chair: Sir Robert Neill MP, Chair, Select Committee on Justice
Speaker: Anna Bradley, Chair, Solicitors Regulation Authority
Dinner Discussion


Monday 04 December 2023


House of Commons

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End Time:


The legal sector is a key driver of economic growth within the UK and is the second largest legal market in the world. The sector employs roughly 375,000 people and in 2022 was estimated to be valued at £43.9bn, an increase of 6.3% from its 2021 valuation. In the wake of the Covid-19 pandemic working practices have changed significantly and there will be desire for agile working in future roles. In March 2023, the Government invested £3mn in new providers of the innovative UK Lawtech programme, a resource which provides courses on new ways of delivering and accessing legal services. This demonstrates one of the key drivers for the sector to thrive and highlights the need to adapt to not only retain talent but also the demands of clients. A rising issue for law firms is the growth of availability of legal services online, with the proportion of consumers shopping around for legal services rising from 30% to 43%. As demand for services returns to pre-pandemic levels how can UK firms ensure they are the first choice for clients?

The event will:

  • Examine how technological advancements have changed the legal sector and what potential “smart” technology can further increase profitability for law firms.  
  • Consider how the trends within the housing market have affected conveyancing rates and what implications this has on the sector.
  • Discuss how to retain key talent in the legal sector and make working practices more attractive to law graduates in the UK and abroad.