Writing in City AM today, Alan Yarrow the Lord Mayor of London, celebrates the British legal system.

And whilst there are issues in the sector, in the 800th anniversary year of the Magna Carter, I think it is right to recognise all the good that our judicial system brings.

The UK is a bastion of the Rule of Law. Not only are numerous other legal systems based on ours, but many foreign litigants wish to have their trials heard here because of the fairness and respect for our judicial system.

Furthermore, the sector was worth over £20bn to the British economy last year. It is also a true international player with the same market share of international and legal work as the US legal profession - despite the US sector being 10 times larger.

So whilst it may not be perfect - its not too bad either.