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LegalUK publishes report on the economic value of English law

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Published on: 05 October 2021

Published by LNB News

LNB News 05/10/2021

Document Information

Issue Date: 05 October 2021

Published Date: 05 October 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

LegalUK has published a report on the economic value of English law, conducted by Oxera a leading economics consultancy. The report establishes the value of English Law far beyond the legal sector both domestically and internationally. The report found English law is a ‘critical platform’ to generate economic value through its ‘international standard for contracts in many internationally mobile market’, creating benefits by reducing transaction costs for UK firms and building the UK’s international influence. Oxera notes that English Law is an ‘underappreciated national asset’ and advises that ‘greater coordination and support in promoting the use of English law in the international economy would be valuable’.

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