Following major outsourcing deals that saw many large organisations including AXA, BAA, the Bank of Ireland, Procter and Gamble, Barclays, the Inland Revenue and the BBC outsource their IT services, the trade magazine Computing named 2003 the year of the outsourcer. The trend towards increased outsourcing has continued throughout 2004 and into 2005. According to Meta Group more than 40 per cent of all new application development work is now outsourced. Indeed, over one-third of all European outsourcing deals take place in the UK making it one of the most developed outsourcing markets in the world.