Following the publication of TheCityUK’s report into the value of UK legal services, the Bar Council has analysed income data from Bar Mutual, the profession’s insurer, and found a further increase in barristers’ income from overseas work, even in 2020. From 2005-2020, overseas income for barristers in England & Wales has tripled.
Derek Sweeting QC, Chair of the Bar Council, said: “Today’s TheCityUK report ‘Legal excellence, internationally renowned: UK legal services 2021’ shows the vital, £29.6bn contribution made by UK legal services to our national economy. It is a reminder of the global strength of our legal sector and the adaptability of barristers, solicitors and all those who work in law in the face of unprecedented challenges. English common law continues to be the foundation of legal systems around the world and the most widely chosen law to govern international commercial transactions. Our courts remain among the most appealing and trusted across the world.
“The Bar Council’s own analysis of barristers’ income for 2020 echoes the findings of TheCityUK report. The latest figures from the Bar shows that the profession’s reach is growing beyond England and Wales. Over the last 15 years to 2020, barristers’ total earnings from overseas work has tripled from just over £114m in 2005 to more than £394m last year, despite the pandemic. This underlines why it is so important for our economy that the Bar Council, along with partners such as TheCityUK, continues to promote our global legal services.”