Responding to Lord Chancellor Elizabeth Truss’ comments earlier today on the UK-based legal services sector post-Brexit, Gary Campkin, Director, Strategy & Policy, TheCityUK, said:
The Lord Chancellor’s commitment today to put UK-based legal services at the forefront of ‘global Britain’ and our new relationship with the EU and international markets underlines the opportunities for the sector post-Brexit.
Her focus on ensuring cooperation in cross-border civil justice following the UK’s exit from the EU chimes with calls from TheCityUK’s paper: ‘The impact of Brexit on the UK-based legal services sector’. The paper stressed the importance of ensuring the primacy of English law in international commercial contracts and that the English courts remain a hub for global business seeking to resolve international commercial disputes.
The UK-based legal services sector contributes around £25.7bn (in 2015) to the UK economy and employs 370,000 people right across the country, two thirds of whom are based outside of London. Ensuring its continued competitiveness post-Brexit should be a central part of the Government’s future trade and investment relationships with the EU and international partners.
We look forward to continuing working closely with the Ministry of Justice and wider Government to inform the forthcoming negotiations and realising the potential opportunities for the sector.