Firms will profit form the emergence of Wales as a distinct legal jurisdiction.

As Grania Langdon-Down’s article ‘Capital Assets’ states (see [2008] Gazette, 23 October, 12), the advent of Assembly measures means that the primary effects of devolution in Wales have only recently become apparent. In future, however, it is highly like that the Assembly will make use of legislative competency orders to expand its sphere of influence to areas beyond those where legislative competence has already been devolved.

Yet it would be misleading to state that firms in Wales are overly reliant on public sector work as a means of surviving the current economic downturn. Forward-thinking commercial practices – our own included – represent clients throughout the UK and overseas, regardless of national or regional boundaries, and across a number of sectors.

Equally, it is incorrect to suggest that only firms based in Wales will profit as the principality begins to emerge as a distinct legal jurisdiction for the first time in 700 years.

Those of us who advise clients through the medium of Welsh will already appreciate the fundamental importance of maintaining a strong regional identity. Yet what makes Wales truly unique is that, although it operates on a north-south basis politically, for a combination of historic and geographical reasons Wales runs west to east economically.

One of the most significant challenges facing the region in the long term is how these contradictory political and socio-economic factors can be reconciled effectively.

Dafydd Downes, Clarkslegal, Cardiff.