The Competition Authority said the legal profession is riddled with restrictive practices and needs to be reformed.
In a report on the profession, the Authority says that the Law Society and Bar Council both operate in a conflict of interest and that the profession needs to be over seen by an independent regulatory body called the Legal Services Commission.
The Competition Authority says these restrictive practices in the legal profession are to blame for the high level of fees. It reveals that the average lawyer earns over €120,000 a year, which is more than twice that paid to architects or engineers.
Among 40 proposals contained in the report is the ending of education monopolies enjoyed by Kings Inns and the Law Society.
And the Authority want restrictions that will allow barristers to advertise and have greater direct access to customers to be loosened.
The interim report is the third such report to be released by the Authority as part of its ongoing study of eight professions in the medical, legal and construction sectors. It contains a variety of proposals designed to enhance competition in the provision of legal services.
Enterprise, Trade & Employment Minister Micheál Martin said the recommendations contained in the report had the capacity to introduce much needed competition into an important sector of the economy and ensure that the legal profession is regulated in a pro-competitive manner.
'Competition is as good for business as it is for the consumer and I would ask all sides to bear this in mind during the consultation process,' the Minister said.
