Like solicitors at larger, international law firms, who can rely on their litigation and regulatory practices to boost revenue amid a sharp fall-off in corporate financing and deal work, barristers have traditionally been among the last to feel the pinch of a prolonged downturn.

And as the biggest buyers of their services increasingly look to shed costs, chambers are already pushing a savvier, more flexible business model than the Dickensian vision some outsiders may cling to.