Matt Shanahan (Waterford, Independent) | Oireachtas source

I thank our guests for attending the meeting. I join Deputy Stanton in saying that this needs to happen very quickly. I have experience of working in two companies in Ireland, in SMEs in the medical device area, where patenting was a particular problem. Cost was the main issue in trying to do patents in different countries and trying to figure out where one could and could not protect them. If anybody looks at this, particularly at the high end of business and intellectual property rights, it is important that we would be very proactive in this area.

I have a couple of questions. One relates to the Brexit gain that our guests have highlighted. Basically, they are saying that we might potentially take over London's situation in a future court location.

When this is quantified, however, are we talking about just legal and professional services? Mr. Gaffney put a very high figure into his opening statement. He said that if Ireland were to get the court, it would contribute €1.663 billion per annum to GDP growth. How has IBEC calculated that number? What specific services or business sectors are the witnesses saying will benefit from having this located here?