A Thomson Reuters Corp. report on the state of the U.K. legal market, published in April, reveals that 40% of U.K. corporations plan to increase their legal spend over the current financial year.
According to the research, the reason across the board for this significant growth is higher demand for legal advice on merger and acquisitions transactions. A net 21% of corporations are expecting to increase spending on M&A advice.
What is most notable about this is that the growth comes just three months after 2% of corporations said in January that they were planning cuts to their legal spend, according to the research.