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03 July 2018

Financial Times: Professions outline case for their survival after Brexit

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A coalition of leading professional and business services organisations has handed the UK prime minister a list of requirements they say are crucial to preserving the £188bn sector in any Brexit deal.

The 42 signatories to the letter to Theresa May, drawn from a range of consultancy, law, architecture, engineering and advertising firms, say any deal with Brussels must ensure the mutual recognition of regulations and regulatory bodies, court judgments, professional qualifications and operating licences between Britain and the EU27.

They also want continued co-operation in areas that facilitate trade, such as data sharing, and the ability for UK-based accountants, lawyers and others to recruit freely from overseas.

Britain should also ensure employees in the sector retain “fly in, fly out” rights so that they can continue to provide short-term services to European clients or British businesses doing deals in the EU, says the Professional and Business Services Council, which acts as an advisory body to the UK’s business department.

Without these arrangements, the council says Brexit will hamper the activities of the sector and therefore damage the operations of the businesses that depend on it. It estimates that exported services are worth £66bn annually.

The council’s members include the Big Four accountants, management consultancies, top law firms and a range of other businesses, as well as industry bodies and interested parties such as the Law Society, the Royal Institute of British Architects and the City of London. [...]

Full article on Financial TImes (subscription required)

© Financial Times

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