News the UK Government is to push for a transitional deal for the two years after Britain leaves the EU was today welcomed by the Law Society of England and Wales.
“We have been arguing for many months now for a deal that ensures people’s rights but also that takes steps so our economy is not undermined, ” said Law Society vice president Christina Blacklaws.
“This proposal for an interim deal is to be welcomed - not least for our legal system which, as Theresa May said in her Florence speech, is respected the world over.”
But Christina Blacklaws also cautioned that more work must be done by the UK negotiating team on services.
“A clearer vision of the future of the UK services industry is urgently needed.”
The legal sector is also vital for UK PLC:
- 8,000 new jobs are created and £379 million is added to the economy for every one per cent growth in the UK legal services sector.
- Each £1 of extra turnover in the sector stimulates £1.39 in the rest of the economy.
- An estimated 380,000 people are employed in legal services in the UK. 63 per cent are solicitors or employed by solicitor firms.
- Net exports of legal services have grown by an average of 5.6 per cent per annum over the last 10 years, to £3.4 billion.
More information about the value of legal services can be found here