Douglas Scott director Jonathan Nolan says: «Budgetary pressures born of
the ongoing liberalisation of the legal services market and economic uncertainty mean that law firms are engaged in a balancing act — they want to create opportunity but at a price they are comfortable with.»
We have seen in our own case how
liberalisation of financial markets has led to pressures to liberalise product markets (through
ongoing tariff reductions and other forms), to bring more competition in the provision of infrastructures (such as transport, communications and power generation), and to free up the labour market (through, for example, enterprise - based wage bargaining).
However, it also reflects the consequences of
ongoing trade
liberalisation, and changing demand for final goods and factor inputs as economies develop.