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Large sections of the Bar will fare less well in the future and the number of barristers will decline – that’s the bleak prediction of a new report.
The Ministry of Justice (“MoJ”) may like to feed public perceptions of “fat cat barristers”, but new research by Jomati Consultants LLP suggests thousands of barristers are set to earn less and the Bar will contract after a “Golden Age” of unprecedented growth that started in the 1970s.
The report, Challenges and Choices: The Bar in Flux claims that many barristers face a “perfect storm”. It sets out the following evidence to back up its view:
In response, the Bar Council and Bar Standards Board have permitted new structures such as ProcureCo, which allow barristers to secure work directly from clients.
In July, Counsel reported a YouGov survey of nearly 2,000 barristers which showed 43 per cent were interested in setting up shop with solicitors, a quarter were interested in forming businesses with clerks or non-lawyers and a third were likely to join a new business structure in the next five years.
Tony Williams, Jomati principal and former managing partner of Clifford Chance, said: “The ProcureCo is not a silver bullet and barristers may have to completely re-examine the way their chambers operates in order to secure sufficient flow and quality of work in the future.”
The Ministry of Justice (“MoJ”) may like to feed public perceptions of “fat cat barristers”, but new research by Jomati Consultants LLP suggests thousands of barristers are set to earn less and the Bar will contract after a “Golden Age” of unprecedented growth that started in the 1970s.
The report, Challenges and Choices: The Bar in Flux claims that many barristers face a “perfect storm”. It sets out the following evidence to back up its view:
In response, the Bar Council and Bar Standards Board have permitted new structures such as ProcureCo, which allow barristers to secure work directly from clients.
In July, Counsel reported a YouGov survey of nearly 2,000 barristers which showed 43 per cent were interested in setting up shop with solicitors, a quarter were interested in forming businesses with clerks or non-lawyers and a third were likely to join a new business structure in the next five years.
Tony Williams, Jomati principal and former managing partner of Clifford Chance, said: “The ProcureCo is not a silver bullet and barristers may have to completely re-examine the way their chambers operates in order to secure sufficient flow and quality of work in the future.”
Large sections of the Bar will fare less well in the future and the number of barristers will decline – that’s the bleak prediction of a new report.
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