Last night saw what we hope is the end of months of governmental uncertainty, as the Conservatives won a majority in the 2019 elections. What this means for the nation is yet to be seen but it is likely that this will bring about certainty in the job market and the economy.
With a democratically elected government, who have a majority in Parliament, it is hopeful that the stagnation of Parliament regarding both Brexit and other policies should end, and activity will return. Economic investment and the confidence in the British economy should begin to increase, thus in turn improving the job market, as employers are able to start investing in their businesses again.
Regarding the legal job market, it is now anticipated by London lawyers that ‘a wave of pent-up investment [will] be unleashed in the UK’ (https://www.law.com/legal-week/2019/12/13/uk-lawyers-predict-rise-in-transactional-work-following-tory-election-victory/), meaning there’ll be more roles available as new businesses and business ventures begin and private resources can be pumped into underfunded sectors and industries. The hoped Brexit progression, due to the Conservative majority, is expected to produce a bounty of legal Brexit work. Included in this increase of Brexit buzz, there’ll be innumerable contracts to be negotiated, re-negotiated and terminated and growth in financial work on offshore entities to protect the finances of individuals and corporations.
It is also an exciting opportunity for lawyers and the development of the legal and legal-tech world as yesterday saw 33 lawyers elected to Parliament. This is a chance to bring about change in the legal industry by finding new and innovative ways of accessing and creating law and flexible ways of providing lawyers to law firms and corporations.
We hope to be part of this change in 2020 as we continue to evolve as a company in the legal industry and provide our clients with the best possible lawyers and help our lawyers find fulfilling alternative career paths.