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The article is not entirely accurate. The proposal is that clients are given the choice of instructing on a traditional hourly basis or to agree an upfront fixed price so slight exaggeration in saying hourly rates abandoned.

There will be challenges, particularly when dealing with complicated litigation matters, but I'm confident they can be overcome. Clients generally value certainty and some will also feel that if a fixed price has been agreed the solicitors will work that bit harder to get it done quickly and efficiently as there would be no incentive in dragging it out to increase costs.