A challenging year ahead

The legal profession enters 2003 with mixed emotions about the future.

In many respects, the profession is healthier than ever - the total number of practising lawyers is approaching 100,000.

And on paper they appear financially fit as well, with solicitors' overall income smashing the 10 million barrier for the first time.

But paper figures on qualifying and earnings could be disguising a deeper malaise.

The gap between high street general practices and large commercial firms, between state funded and privately paying work grows apace and shows no sign of narrowing this year.

Newly qualified solicitors and barristers are both facing high levels of debt which could have a negative impact on the social composition of the legal profession.

Indeed, 2003 could be a watershed.

Sarbanes-Oxley in the US and its impact on the multi-disciplinary partnership debate; the resolution of funding issues around conditional fee agreements and the impact of fixed fees in certain personal injury actions; the ongoing debate over the government's proposed reforms of the criminal justice system; the possible opening of conveyancing and probate; and the entire future of state funded legal work, are all issues high on the agenda.

Which means the situation in January 2004 could be much different from that of today.