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What a Starmer government could mean for Aussie lawyers
Sir Keir Starmer and the Labour Party have won the UK general election, securing a widely predicted wipeout victory over Rishi Sunak and the Conservatives. Here’s what the change of government could mean for lawyers Down Under.
Jerome Doraisamy
As of the time of filing this story, Labour has won a landslide victory in the UK general election, with an estimated 170-seat majority. The incumbent Tories, on the other hand, may enter the next parliament with their lowest seat total in the post-war era.
Recently, Lawyers Weekly reported on what re-elections for either Joe Biden or Donald Trump would mean for data and privacy lawyers in Australia.
Renewables
The policy platform of the incoming Labour government, Pinsent Masons corporate partner Joni Henry said, includes a focus on renewable energy investment.
As part of this, she said, the party is pledging to introduce a National Wealth Fund to support investment in clean energy, as well as working with the private sector to double onshore wind, triple solar power, and quadruple offshore wind by 2030.
“While the focus of the fund is on UK projects, the UK policy is broadly consistent with Australia’s [newly introduced] Future Made in Australia Bill, which is also designed to promote public and private investment in energy transition,” she said.
“With Australia’s existing investment and supply chain ties with the UK, there will be opportunities for UK-based companies to invest in Australia’s transition to renewables.”
In particular, Henry noted, there will be “excellent opportunity” for UK-based companies to bring their knowledge and skills developed in the UK into Australia’s emerging offshore wind market.
“Also, given the level of investment the Australian government has put towards the production of hydrogen, UK Labour’s commitment to develop hydrogen ports and infrastructure may provide access to new markets for Australian hydrogen,” she said.
Trade
Dentons partner Robyn Chatswood, who heads up the global firm’s Australian technology practice, said that she expects good trade relations between Australia and the United Kingdom to continue developing – “in part due to the efforts in recent years of both governments”.
“AUKUS (the trilateral security partnership with [the] UK, Australia and the United States) has strengthened that further,” she said.
“The problematic global landscape will mean that Labour will need the UK to be strong and well connected – especially in the APAC region – and Australia is key to that.”
Labour has said, Chatswood continued, that international business is part of its plan for growth and that openness to trade delivers greater choice and value for consumers.
“They have expressed support for targeted trade agreements aligned with industrial strategy,” she said.
“This could be good for Australian businesses looking to expand internationally into the UK.”
Tech and financial services
From a tech sector perspective, Chatswood went on, Labour’s manifesto detailed its intention to embrace innovation and fintech as the future of financial services and be a “global standard-setter” for the use of AI in financial services.
The policy also aimed to deliver further reforms to enhance open banking and take steps towards open finance and digital currencies, she added.
“This spells opportunities for Australian fintechs – and the lawyers who advise them – who may find it easier to access expanded markets in the UK,” Chatswood said.
Of note, however, is that Labour “has expressed support for the implementation of the OECD global minimum rate of corporate taxation and international efforts to increase multinational tech company tax”, she went on.
“And so, that may mean some tech sector structuring impacts,” she said.
Job opportunities
Moving forward, Chatswood advised, Australian lawyers should stay up to date with developments – and, in particular, look out for the trade strategy to be published by Labour after the election.
“Labour has said that they want to negotiate standalone sector deals, such as digital, or mutual recognition agreements, to promote UK services exports,” she said.
“So, this may mean better access to the UK job market for Australian lawyers and better access to Australian job opportunities for UK qualified lawyers.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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