Ungated Post | 24 Oct 2018
Helping to understand the impact of Brexit: The economic outlook for UK legal services
Following the 2016 referendum, economic uncertainty has spread across several industries within the UK economy. This report is Oxford Economics’ and Thomson Reuters’ exploration of the impact of the UK’s potential departure from the EU on the legal services industry.
The report uses several research techniques including economic modelling, face-to-face and telephone interviews, and an online survey to explore the possible outcomes of Brexit for the legal services industry under two scenarios. The first scenario assumes the UK enters a free trade agreement with the EU. The second scenario, the ‘Downside’, assumes the UK and the EU enter a WTO agreement.
The headline result is that we estimate turnover for the legal services sector could be £580mn lower by 2020 if the government fail to agree a transition deal for legal services.
The report also explores the structural changes that could occur in the legal services sector post Brexit. These changes are likely to vary according to firm size and specialty.
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial,and policy issues.
To find out more about our capabilities, contact:
EMEA
Paul Donnelly
+44 (0)207 803 1416
Americas
Diantha Redd
+1 (646) 384 0271
Asia
Peter Suomi
+65 6829 7198
Related Services
Post
2024 Fujitsu SX Survey: Accelerating Sustainability Transformation with AI
In the face of rapid technological advancements, businesses and society are undergoing significant transformations. At the same time, addressing sustainability issues such as geopolitical tensions and climate change remains a critical management challenge.
Find Out More
Post
The True Cost of Compliance
This report updates last years’ research on the detection and prevention of financial crime, and it’s cost to the UK financial services sector. We surveyed 254 senior compliance executives about their costs and compliance activities, and extrapolated the results to estimate the costs across the UK Financial Services sector. The report, by LexisNexis Risk Solutions,…
Find Out More
Post
Impact AI: Enterprise AI Maturity Index 2024
Oxford Economics and ServiceNow fielded a global survey of 4,470 executives at organizations where artificial intelligence capabilities are in use.
Find Out More