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The top 10 inflationary buys
The Office of National Statistics has announced that it has changed some of the items in its basket of 700 goods and services.
The ONS utilises the services of 300 price collectors taking into account about 180,000 prices each month which are collected from around 140 locations across the UK and from the internet and over the phone.
The basket is reviewed each year and removal can be a sign of the times through either technological advances or change in tastes. Amongst the items that have been left in the cold this year are
- Cooked sliced turkey
- Rewritable DVD
- CD Rom
- Nightclub entry
Thankfully legal and conveyancing services are still in and with 698 other items to choose from we found 10 inflationary products that should be in every lawyer's basket.
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£5bn shortfall in legal services sector?
Research published this week by The Law Society has valued the 2015 legal services' market at £25.7bn - nearly £5bn short of the £30.54bn forecasted in their 2014 report "Legal services sector forecasts of real turnover and net exports."
The "Economic Value of the Legal Services Sector" report is the first ever investigation of the wider economic value of the sector. And despite the shortfall it paints a rather rosy picture of legal practice -
- Growth in the legal services sector has averaged 3.3 per cent every year for the last decade - outstripping UK economic growth rate of 1.2 per cent.
- 8,000 new jobs are created and £379 million is added to the economy for every one per cent growth in the UK legal services sector.
- Every 100 extra jobs in legal services supports a further 67 jobs.
- According to the report the sector grew by 8 per cent from 2014 to 2015 and an estimated 370,000 people are employed in legal services in the UK.
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The case for the alternative
It's not everyday you come across a Solicitor who owes his success, in some part, to Henry Fonda.
Thankfully this is not one angry man. By day Dan Berke is Director of Risk, Compliance and Operations at blockbusting Solicitors LHS. At night he is a family man, legal commentator, stand-up comedian and also supports a local amateur boxing club
Dan took a bit of time away from his busy schedule to talk a bit more about his role, LHS Solicitors LLP, how he got his break in law and much more.
Lights, camera, action.
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