The Gazette canvassed law firms across the country on what the Brexit vote means for legal business. Here’s what Mark Parnall, Director Parnalls said “Any funding Cornwall loses from the EU will, I suspect, be replaced by the UK government. Cornwall also has much to benefit from lower exchange rates in attracting foreign and domestic tourists. Farming will benefit a lot from more competitive produce.
The biggest threat for us is lack of lending activity to clients. After the 2008 crash banks shut their doors. They like lending to rural businesses less than to those in cities, as it is slightly more marginal and less profitable. A clampdown would have a disproportionate impact on rural practices.”