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.

Read the full report.

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

Email

Americas
Diantha Redd

+1 (646) 384 0271

Email

Asia
Peter Suomi

+65 6829 7198

Email

Related Services

Post

The Economic Impact of Drax Group in the U.K., U.S. and Canada

This study investigates Drax Group’s economic impact in the U.K., U.S., and Canada. It considers Drax’s own operations, the economic activity supported by its procurement spending and the impact of the wage payments to employees. We also consider the social value delivered by Drax Group.

Find Out More

Post

Energy Transitions in Western and Central Africa: A focus on Nigeria, Ghana, Senegal, Equatorial Guinea and Mauritania

The global energy transition involves the sustained displacement of fossil fuels by renewable energy and complementary technologies to reduce carbon intensity. It is, however, imperative to consider such shifts within the distinct developmental contexts of countries to ensure energy transitions are socially inclusive and just. This latest report by our Africa consulting team examines how energy transitions are likely to unfold in Nigeria, Ghana, Senegal, Equatorial Guinea, and Mauritania.

Find Out More

Post

Becoming More Efficient – How finance and IT are leading the way

Oxford Economics and SAP Concur surveyed 1,000 finance and IT executives about how they are making their functions more efficient.

Find Out More