Britain’s legal Industry brace for a no deal Brexit
The UK is currently the second largest provider of legal services in the world and number one in Europe. But if a no deal Brexit goes ahead the future could be a lot less certain for Britain’s legal industry. “According to our estimates, the volume of work in legal services would be down £3.5bn* – nearly 10% lower than under an orderly Brexit,” said Law Society of England and Wales president Simon Davis.
‘Our sector contributed £27.9bn to the UK in 2018―1.4% of GDP―and in 2017 posted a trade surplus of £4.4bn, according to the Office for National Statistics (ONS). Much of this balance of payments surplus is down to access provided by EU Lawyers’ Directives.’ Under current arrangements, solicitors have the ability to advise clients in the EU on matters such as EU law, the law of the host state, and all types of law.
Simon Davis has called upon the government to make an agreement with the EU that is similar to the Lawyer’s Directives, this will mean that solicitors will still be able to practice in the EU.
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