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As someone already said - this is not news. The problem is that the market will dictate the number of solicitors not the firms or the SRA. There remains huge over supply of graduates and solicitors, as well as an unrealistic expectation of what the profession can provide and cater for. There is no point having solicitor overheads when paralegals ones remain far cheaper and they can do the same work... I just don't see the floodgates problem materialising given how most firms think and operate - sad but true.

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