Mr. Micheál P. O'Higgins:

In fairness, I should not have referred to the Brexit initiative as just a Bar proposal. It came from across the legal profession, including the solicitors' body and some law firms.

One of the objectives was to make it known and proclaim widely the fact that many firms, including law firms, chose to litigate their business in London because of the access to a common law country's legal jurisdiction with an overlay of EU law. If the UK leaves in March or whenever Brexit happens - hopefully, it will not happen - it means that a number of parties, including corporations and law firms, will want to transact their legal business in Dublin. Without being disrespectful to Malta and Cyprus, we would be the main common law jurisdiction left in the Union and would be an excellent choice for that business, which we are anxious to attract. That has implications for foreign direct investment beyond legal services. Hopefully, there will be a move away from London being the hub to Dublin being the hub, at least in respect of part of that business. It is attractive from society's point of view and from the point of view of the Irish Exchequer.