Legal services are one of the UK’s greatest exports. They are at the heart of our economic prosperity and a magnet for international businesses. The fairness and predictability of our legal system, coupled with the exceptional legal expertise we have to offer, draws businesses from across the globe. This sector alone rakes in over a whopping £25bn each year. For context, that is more than double the amount that we bring in through the arts.
Naturally, these figures bring great delight to my honourable friends at the Treasury, but they also bring a tangible impact for people across the country. From Edinburgh to Bristol, legal hubs across the UK provide over 300,000 jobs—all of which are helping our economy grow and recover from the impact of the pandemic.