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Brexit shmexit? Most City firms think EU departure won’t affect lawyer numbers

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Music to training contract seekers’ ears?

The vast majority of London law firms don’t expect Brexit to have an important impact on their employment levels, new research shows. Only 2% of the 100 firms surveyed forecast the referendum result having a “significant impact”, while the majority, 72%, don’t anticipate any impact at all.

The reason behind this positive forecast may be at least partly down to expected Brexit-related litigation, suggests EU professor Steve Peers. Speaking to Legal Cheek, the University of Essex academic says this potential litigation may “concern the details of leaving the EU and the future relationship between the UK and the EU”, which will keep lawyers busy.

Indeed David Allen Green, legal commentator and City lawyer, echoes this when he tells us:

“Few commercial lawyers campaigned for Brexit, and Brexit is contrary to the interests of many commercial clients. Yet Brexit will mean, at least in the short to medium term, that there will be more need for legal expertise. Lawyers generally did not support Brexit, but Brexit will do quite a lot to support lawyers.”

This new report, which you need to register to access, may go some way to quelling law student fears about training contract numbers. A Legal Cheek article written by a law student just a week after the referendum vote namechecked decreasing training contract numbers as a law student Brexit fear. “Law firms could cut down on their trainee intakes or even enter a dreaded recruitment freeze,” she speculated.

The 2018 Firms Most List

Legal Cheek revealed last year that training contract places among the leading corporate law firms had fallen by 5%. Whether this is Brexit-related or not can only be speculated. On the other hand, training contract numbers across the board, not just in the City, are actually up. Law Society stats show there are 5,728 trainee places now, up by 1,000 since the 2008 financial crash.

Elsewhere the new report — which is by research blog CBRE and includes data from the 100 biggest law firms in London by floorspace — reveals most law firms don’t expect Brexit to affect their profitability. There may be a minor impact, 36% of firms think, but most (59%) expect “no impact”. Dominic Raab, the former City lawyer turned MP for Esher and Walton said this research is a “good illustration of UK ability to adapt” on his Twitter account.

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42 Comments

Sensible

Brexit ? Ker-ching😃😃😃😃😃😃😃😃

Anonymous

VOTE LEAVE

TAKE BACK CONTROL

WINNING

Anonymous

Dick

Kelly

does anyone else find this really difficult to believe??? how can Brexit not impact employment levels at law firms when so many eu nationals are employed by them

TFG

Will be ker-ching in the short term and devastating in the long.

Except that it won’t happen anyway. Ultimately.

Anonymous

EU qualifiers can F off and let Brits take their jobs.

Seriously, off you fvck

Sensible

One in ..one out ..plenty of work coming down the pipe.

Brexit, DLT …

Anonymous

DLT ? The Hairy Cornflake ? Quack quack oops.

Why in the name of tits would you want to see him re-emerge from his hole you mental ?

Anonymous

Or jimmy savile in your case

Anonymous

Oh. How hilaaaaaaaarious are you casually invoking a paedophile in some supposed attempt at insult.

Laugh everyone. It’s so worthy of appreciation after all.

Not Amused

Well thank goodness we didn’t make a fuss about it at the time then …

Anonymous

Brexit related work will last a relatively short time. The real concerns must be long term.

Are the blinkered or trying to blinker us?

TGF

Trying to blinker us clearly.

BTW, looks like Trumpenkock has downticked you 7 times. He loves clearing his cache *cough*

Sensible

Will last longer in itself than you think, and its impact will increase the need for DLT work (which is good for 10 years at least).

I am sure however that certain other areas may shrink. Net Net its positive for the legal sector job market in London as a whole.

TFG

Brexit is still a big bag of wank and will have to be dropped like a stone at some point. Sorry to all those thinking you’re going to carry on keeping it all secret – the Anti-Tax Avoidance Directive 2016 is still going to bite you on the perineum at some point I’m afraid.. Tough tits like…

Sensible

Either way it creates work

Oppidan

No such thing as ” devastating ” in situations like this.

It will happen (90% certain from a distinguished remainer under Chatham House rules) but obviously one needs to contingency plan for the alternative scenario.

Personally I wouldn’t waste valuable, time, money or effort on Plan B tho.

Sensible

Yes . I agree. The Brexiteers are so close to it now they will accept virtually any compromise to get it over the line at the whistle.

Anonymous

Brexit means more red tape, as companies will need to take account of the UK’s rules *and* those of the remaining EU27 (even if the UK’s rules are simpler), where previously they only needed to take into account those of the EU28.

Even if, the UK’s rules are the same, you’ll still need to consult your UK lawyers to confirm that.

Lawyers are, ultimately, creatures of red tape. Ergo, Brexit is good for lawyers (provided that it doesn’t tank the economy too much to outweigh the red tape duplication dividend).

Anonymous

The benefits of Brexit in the real long term (rather than a subjective political cycle of indeterminate length) far outweigh any economic short term pain

TGF

What tah-otal bollox.. Dear me… 😀

Anonymous

What benefits?

Sensible

The benefits are as yet undefined but the disruption an event like Brexit causes will result in a period of innovation and growth not seen since the 80s Big Bang.

Sure there is some fear and a few nerves but now it is done the greater danger lies in resisting the tide (this does not preclude strong argument against hard brexit or brexit itself if you really cant get over it)

Oppidan

Or alternatively if it does all go to sh1t thats no bad thing. People will have to learn to be satisfied with less and resdiscover the simple delights of a 1950s English idyll. Such a view may seem atavistic to some of the ostriches who post here, but imho it is the medicine this country sorely needs.

A trust fund with a trust fund

Oh yes the delights of sitting in a shit stained pub with some red nosed decrepit old retard sipping disgusting warm beer and wondering if you can afford to buy fuel for the car this week. Before going home and having your obese horse face wide harangue you in her shit encrusted gown.
Ah the joys of true British living !

TGF

Well, that’s Oppidan nailed to the ‘king wall right there. 🙂

Oppidan

Or alternatively a pleasant drive in my MG fast along a country lane with a wife who looks amd dresses like Grace Kelly and polite constables saluting me along the way

TGF

🙂

And if you look to your right as you’re driving along, you might just be able to observe a young T Brazier running through the fields of wheat..

Anonymous

Trainee numbers have been pretty cautious since 2008 and haven’t got anywhere near the numbers of 2006-7. Firms are probably saying it won’t significantly impact their numbers as they are already fairly streamlined. That or firms are not being completely honest when responding to the survey.

Anonymous

So much of the remain opinion depends on there being a stable, economically successful EU into the far future. What happens if the Eurozone bombs economically? Or the political reasons for membership decline and other states leave? Or both?

It’s not said often enough, but there is a respectable argument for getting out on the basis that the underlying weaknesses and tensions in the EU are sufficient to make it a reasonably risky venture to stay part of.

Of course we can’t shelter entirely from the effects of economic or political turmoil in the EU. (And neither is fanciful: events in Greece (economically) and Hungary and Austria (politically) show that well enough.) But if things go tits up it will be much better to be outside and subject to indirect effects than inside and taking the full blast.

TGF

Ah, Mr Redwood.

Anonymous

Ah, Mr Juncker.

Oppidan

It is like sleeping beauty. In 1997 an evil mist descended and brainwashed this country into thinking we liked all this PC sh1t. Suddenly we have woken up and remembered that the leftist fifth column is not what we ever were.

History has shown us the way time and time again.

We are with europe , not of it.

Linked but not compromised

Associated but not absorbed.

Should european statesmen address us and say ” shall we speak for thee?”

Then we should reply ” nay sir for we dwell amongst our own people”

And make no mistake the windrush generation ARE our own people too.

Heath betrayed the commonwealth in 1975 and no the wheel has come full circle.

TFG

Utter utter arsewash of the most glib and ridiculous kind. For a start, one man’s political correctness is another’s being a basically decent human beIng. That aside, equating it to the situation with Brexit is not a cognitive leap rather than a jump through hyperspace.

Tell you one cognitive leap I’ve made though – Trumpenkock is very quiet on this thread with you no about. Now I wonder why the fuck that is….

Oppidan

Lets try a syllogism then:

I am not Trumpenkreig

Trumpengrein is a wise man

Both Oppidan and Trumpenkreig are wise men

TFG

Nope.

You’re a twat (your name alone makes you stick out like a sore cock)

He’s a twat

You are the same person. And what’s more, this is just another in a long line of fucking pathetic pseudonyms.

You can keep denying it. You can try and play little fucking sad games- but the fact is you’re fooling no-one. Except yourself.

Just denying something doesn’t make it true. Your novelty value has worn off. Sort yourself out. Grow the fuck up !

Then once you’ve done all that. Fuck off anyway – you have no valuable input to impart. Here or anywhere else

Oppidan

Fuck up and die TFG ( what the fuck does TFG stand for anyway?)

Twat fuckwit Gimp??

TFG

Looks like I hit the 🎯 full square given that response. Truth hurts does it – ahh diddums..

Now how ‘bout you fuck up and die you utterest of pricks ?

Oppidan

Trot

Fake

Gobshite ?

Anonymous

TFG – can you really not accept that more than one person holds views you find (a) offensive (b) the same?

You are the one who is running out of value.

You are also dangerously out of touch with the actualite

TFG

Yeah, you can take your gaslight and shove it firmly up your ringpiece sonny.

Actualité my arse…😆😆

Oppidan

Well jell you found the accent for the e

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