The Law Society has called upon the Government to ‘preserve the rights’ of the UK’s £26billion legal sector during Brexit negotiations with the European Union (EU).
In a report entitled Brexit and the Law, the Society urges the Government to:
- Consider continued access for UK solicitors to practise in EU member states
- Maintain mutual recognition and enforcements of judgements
- Collaborate with the EU in terms of security, policing and criminal justice
- Promote England and Wales as a ‘jurisdiction of choice’
The Society’s report states: “From the legal sector’s view, continued free movement would be beneficial economically, but we of course recognise that there is a competing public policy commitment to control immigration.”
Robert Bourns, President of the Law Society, added: “The legal sector underpins the UK economy – and not just because it is worth more than £25.7 billion in its own right.
“In every part of the economy people rely on the advice and support of solicitors.
“A 1 per cent growth in the legal services market creates 8,000 jobs. Each £1 of additional turnover stimulates £1.39 in the rest of the economy. And the legal economy grew by 8 per cent last year.”
The Law Society’s full report can be accessed here.
For more information about the tax and financial services Moore Thompson is able to provide to clients in the legal sector, please contact us.