Who will protect Irish firms from discrimination in post-Brexit UK?
Published 04/10/2016 | 02:30
Many Irish firms, and firms from other EU states, have extensive investments and trading interests in the UK. Indeed, this must one of the most intense investment relationships in the world.
For the past 40 years, these investments have been protected by UK membership of the EU, which allowed firms, who might feel they were being discriminated against in favour of British-owned competitors, to appeal not only to the UK Courts, but also to the European Court of Justice(ECJ)
On Sunday the UK Prime Minister Theresa May announced that once the UK leaves the EU, the jurisdiction of the ECJ in the UK will be ended. Thus, there will no longer be any, non-UK-controlled, arbiter to protect Irish or other EU investors in the UK against discriminatory laws by a future UK government. The UK has no written constitution.