Newspaper article The Journal (Newcastle, England)

Firms Make Significant Contribution to Economy

Newspaper article The Journal (Newcastle, England)

Firms Make Significant Contribution to Economy

Article excerpt

Byline: By Andrew Hoyle

North-East law firms make a significant contribution to the regional economy.

The number and quality of lawyers employed in commerce, local and national government as well as in law firms means they are instrumental in driving forward the success of local businesses and public life.

A strong legal profession serves to maintain and generate service industry activity in the region. A strong professional service industry is essential to the wellbeing of the North- East economy. It creates employment and wealth, and cultivates business for local companies.

By supporting local legal firms, client companies are enabling the profession to invest further in the region. The Legal 500's editor for the Northern region is quoted this year as saying that the success of the region's law firms is a reflection of the vibrancy of the economy.

It is a vibrant and competitive legal market in the North. A lot of the firms are competing for instructions from nationwide clients. Generally, North-East firms are working on a lot of corporate activity in the region and there is a great deal of development being carried out, which is good news.

YEAR OF CHANGE

This year is a year of change for the profession, following the publication of the Clementi Report last December, which suggested a number of changes to the regulation of the legal system.

It is, therefore, an exciting year in which to be president. Each of the members of Newcastle Law Society is able to have a voice in shaping the future of the Law Society. This is an exceptional opportunity, which I urge all of our 1000 members to respond to by taking part in the consultation.

NEWCASTLE IN TOP TEN

Newcastle is one of the ten largest law societies in the country. One of the options for change is that the Law Society's representative function would move to local bodies, such as Newcastle Law Society, or special interest groups. …

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