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In response to some of the negative comments here, I was going to do a long rant about the fierce competition in the market and the difficulties I have personally faced trying to become a solicitor. Instead I suggest you look at my Linkedin profile (can't link it here, so search my name and look for the IP paralegal). Have a look at it and then comment on whether you think these new changes are a bad thing for people like me.
FYI - I have been trying to get a training contract for 5 years and have only ever had 2 interviews for a position. I also self-funded myself through the LPC.