Ok, lets say that the IMCr goes.....
In that case I think it would be fair to expect that ALL FI's MUST hold a valid IR to exercise the privileges of the FI rating and be paid for it. How about that then? I bet that would get many complaints, but if we apply the same safety mentality as EASA I think the paying public should be offered the best protection.
The reason I say this is that I have flown with many UK FI's who only have an IMCr or lapsed IR (and using IMCr privileges). Conversely every US FI I have flown with has an IR, and the majority of them have the CFII rating (instrument instructor)....
I think that when the IMCr goes, people won't bother doing further instrument training. I do know of foreigners who come to the UK to do an IMCr, yet wouldn't bother doing further instrument training in their home country. Why bother? You may as well go to the USA, do 15 hrs instrument at a cost of $1500 and 5 days while you have a holiday.
Everyone will lose if the IMCr dies a death....