It’s impossible to precis the events of 2011 in a manner that is of universal relevance to an ever more polarised legal profession. So much has happened; so much has still to happen. Clearly, it was a dreadful 12 months for legal aid lawyers, with an ideologically driven government impervious to reason on swingeing cuts that will cost more than they save. Personal injury claimant lawyers are also smarting, for obvious reasons.

In the City, however, it’s hardly hair-shirt time. This week’s news that one top firm is planning a cull of equity partners because PEP has fallen to £900,000 hardly speaks of meltdown. Moreover, the top 100 suddenly appear bullish again, reporting a near double-digit revenue rise for the second quarter.

Better to look forward, perhaps. And for no better reason than the fact that, in January, we will learn how many entities have applied to become alternative business structures regulated by the Solicitors Regulation Authority. That will signal the end of the ‘phoney war’, when practices of all sizes should begin to discern a clearer picture of the competition they will face from new market entrants. The Ministry of Justice will doubtless be keen to take the plaudits for liberalisation, though of course this will be the culmination of a Labour policy.

On that portentous note, it only remains for the Gazette to wish readers a Happy New Year.