The City of London Corporation has announced plans for a new court to be built in the Square Mile, replacing all the City’s current court services, with the exception of the Old Bailey.
The proposed new combined court will see a new, state-of-the-art, multi-purpose replacement court for the historic civil court, the Mayor’s and City of London County Court and Magistrates’ Court.
Located in the Fleet Street area of the City, the court will boast 18 courtrooms. The court’s primary focus will be on fraud, economic crime and cyber-crime, but it will also hear other criminal and civil cases, including the work of the City of the London Magistrates’ Court.
The court’s close proximity to some of the world’s leading technology, financial and professional services firms is a great boost for Londn legal services. It would also benefit from its position near the Rolls Building, the Royal Courts of Justice, Old Bailey and Inns of Court.
The plans for the court, which are being developed in partnership with HM Courts and Tribunal Service (HMCTS) and the judiciary, will help cement the City’s position as a preeminent legal cluster and the leading global financial centre. Employment in legal services currently accounts for 9.1% of the Square Miles’s workforce (44,000 jobs) and one in eight workers in the legal sector are based in the City of London.
This interconnectedness between financial and legal services is demonstrated by the fact that financial services firms makes up 17% of the total demand for legal services in the UK or £2.8bn. Legal firms’ demand for financial services amounts to £793m or 8% of its total input
The next steps will see the City Corporation commission a feasibility study to analyse the cost implications and identify possible funding sources. This is expected to complete in early 2018. The exact location of the court will be announced in due course. The City will also commission a study to quantify what the economics benefits would be to London as a legal services centre.
The new court would include current magistracy and civil/county court services. HMCTS are investing over £1bn to reform courts in England and Wales to deliver swifter justice that is modern, more accessible and better meets the needs of people and businesses.
Justice Minister Dominic Raab said:
“This new flagship court will build on UK legal services’ unique comparative advantage, by leading the drive to tackle fraud and crack down on cyber-crime.
“By reinforcing the City’s world-leading reputation as the number one place to do business and resolve disputes, it’s a terrific advert for post-Brexit Britain.”
Sir Ian Burnett, Lord Chief Justice, said:
“I’m delighted by the City’s announcement today, which underlines its commitment to delivering justice in the City.
“The new court’s primary focus will be on fraud, economic crime and cyber-crime, but it will also hear other criminal and civil cases, including the work of the City of the London Magistrates’ Court. The judiciary looks forward to working with the City and HMCTS to make this a reality.”
As part of an overarching six year project to digitise many of its services, HMCTS will use the new building to shift many of its high volume, paper based processes to digital channels.