That sound you can hear is claimant personal injury solicitors, claims management companies and after-the-event insurers canning their business plans and polishing their CVs.

Jackson has left us with two known unknowns: will the next government implement his recommendations (let us not forget that it was Labour’s Access to Justice Act 1999 that caused many of the problems he identifies), and what impact will the reforms have on access to justice?

This has hitherto been seen as an issue belonging almost exclusively to claimants, but a major theme of Jackson is that defendants have rights too. Another is that he dislikes the industry that has grown up around PI.

If he gets his way, non-commercial litigation will be a very different world. Though in some ways it will resemble the 1990s – with neither referral fees nor recoverability – the legal market has moved on apace and alternative business structures will soon be upon us.

Even if referral fees are not abolished, perhaps a claims management company owning a law firm is the next logical step anyway, while operating under fixed costs or contingency fees may become de rigueur in the ultra-competitive, consumer-focused market that will be unleashed next year. Ditch your business plan if you want, but there is still time to draft a new one.