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Everyone can agree that the situation is uncertain.But I do not see this as the time to put the brakes on reforms that will support a healthy legal market, improving access to justice and public confidence.
The picture is very much the same for small businesses, the majority of which have little contact with solicitors or law firms.
We also recognise that an innovative and competitive legal market can give the public more choice, increasing access to high quality legal services at a price they can afford.
We have a clear commitment to reducing costs, both through ensuring we offer value for money and through cutting bureaucracy and unnecessary regulation.
Our report shows that things are slowly moving in the right direction.
More people are now shopping around for legal services, yet the majority still are not.
But barriers can include: We know that regulation costs time and money.
These costs are ultimately passed to the public, so we need to make sure that our rules and regulations are proportionate and targeted.
You will find the latest intelligence and insight to help solicitors and firms manage these risks effectively.
We have also included one new priority risk this year – access to legal services.
To achieve this we must set high professional standards and encourage a legal market that is strong, diverse and accessible to those who need help.
Only a third of people with a legal problem seek professional advice.
Although we are seeing solicitors working with accountants in multi-disciplinary practices, there is still legal need not currently being met by regulated lawyers.