New strategy boosts legal services growth

The Law Society of England and Wales recently expressed strong approval of the government’s new Industrial Strategy, highlighting the critical role that the legal sector plays in the UK’s economic landscape. Today’s announcement brings a host of recommendations from the Law Society into focus, reflecting an increasing recognition of the sector’s importance. This strategy underlines the government’s commitment to maintaining the strength of English and Welsh law while seeking to digitise the civil justice system and expand overseas market access, ensuring the UK’s legal standing on a global scale.

The legal sector is positioned as one of the eight high-growth areas identified within the new strategy for professional and business services. As the world's second-largest legal sector and the largest in Europe, it contributes an impressive £60 billion annually to the UK economy. The government’s plans also include extending the LawtechUK programme for an additional year, particularly aimed at enabling small and medium-sized law firms to embrace technological innovation. This is seen as a crucial step towards modernising services and enhancing efficiency within the profession.

Richard Atkinson, president of the Law Society of England and Wales, emphasised the strategy’s potential impact, stating “Our legal system sets global standards. The new Industrial Strategy can be a game-changer for the UK economy and the legal sector. Putting legal services at the heart of the country’s economic engine can fuel sustained growth.” He further mentioned that “The new strategy prioritises technological innovation, aims to open global markets and upskill English and Welsh lawyers. If coupled with the investment we will need in the courts infrastructure and across the justice system, the strategy could deliver sustained growth in the sector.”

With a commitment to invest in training and upskilling legal professionals, the government demonstrates its understanding that a robust legal sector is vital to the successful functioning of the wider economy. The Law Society is eager to collaborate with the government to achieve long-term ambitions for legal services, preparing for a future where the sector continues to thrive and evolve. This new strategy signals an important step forward in ensuring that legal services remain a significant driver of growth in the UK’s ever-changing economic landscape.