Speaking at a recent pre-election debate hosted by the Law Gazette in London, representatives of the UK's Conservative and Liberal Democrat parties stated their opposition to the so-called 'Tesco Law' proposals put forward by Sir David Clementi following his review of the country's legal services sector.
According to the Law Gazette, Shadow Attorney-General, Dominic Grieve announced that:
"I do not see how either I or my colleagues would ever accept the notion of outsiders being able to own law firms."
Liberal Democrat Shadow Constitutional Affairs Secretary, David Heath, meanwhile, told the Law Society's news service that:
"I instinctively recoil from the idea of Tesco Law, as it is put, but actually I do not think it is Tesco Law that we need to worry about. It is more NatWest Law or Barclays Law. The conflict of interest within practices of that kind are likely to be insurmountable."
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