David Lammy says the jurisdiction supports £250bn in global M&A activity and two-fifths of cross-border business transactions worldwide
English law should be treated as a strategic national economic asset underpinning global trade and investment, the Ministry of Justice has indicated as it backed a new report on strengthening the international role of the jurisdiction.
Launching the Harnessing English Law for Economic Growth report, Deputy Prime Minister David Lammy described English law as “one of our greatest national assets” and a “quiet engine of prosperity” supporting global commerce and investment flows. He said the legal framework of England and Wales underpins large volumes of international transactions and dispute resolution activity worldwide.
Highlighting the scale of its international reach, he said English law governs around £250bn of global mergers and acquisitions activity and is used in around two-fifths of cross-border business transactions and corporate arbitrations, reinforcing the UK’s position as a leading centre for commercial legal services.
Lammy also emphasised that the global influence of English law rests on a wider institutional ecosystem including an independent judiciary, trusted regulatory structures and internationally recognised legal professionals, which together support investor confidence and cross-border commercial certainty.
He said the international use of English law reflects the UK’s longstanding commitment to the rule of law and continues to enable trade and investment far beyond the domestic legal sector itself, strengthening the country’s wider economic competitiveness.
The speech formed part of the government’s response to growing international competition from other jurisdictions seeking to attract high-value dispute resolution and commercial contracting work, with ministers signalling that maintaining the global position of English law will remain central to the UK’s legal services strategy.