Funding for legal technology shot in arm for economy
News the government is to invest just over £2m to support new and emerging technologies in the legal sector was today welcomed by the Law Society of England and Wales president and chair of the LawTech Delivery Panel, Christina Blacklaws.
The panel, a team of industry experts and leading figures from government and the judiciary, was formed by the lord chancellor in the summer of 2018 to help the UK legal technology sector – lawtech - grow and fulfil its potential.
The panel has addressed challenges related to regulation, investment and funding, education and skills, legal frameworks, commercial dispute resolution and ethics.
“As chair of the Lawtech Delivery Panel, I am delighted to welcome the lord chancellor’s announcement of new funding for technology in the legal sector,” said Christina Blacklaws.
“There has been an exponential growth of technology in the financial services industry in recent years, thanks in no small part to government support. Last year, job creation increased in London by 61% - and nearly a fifth in the country as a whole.
“This initiative will help the UK to become a world leader in legal technology – with all of the economic benefits that follow.
“We look forward to working with the lord chancellor and the ministry in the strategic delivery of this investment.”
Notes to editors
- The UK is the second largest legal services market in the world, and a leading global legal centre. Over 200 international firms, from over 40 jurisdictions, have chosen to base themselves here. English and Welsh law is the most commonly used law in international business and dispute resolution.
- The legal services sector’s contribution to the UK economy is strong; in 2017 it was worth over £25bn (equivalent to 1.5% of UK GDP) and employed over 380,000 people
- The LawTech Delivery Panel is industry-led and government supported. Further information can be found on our LawTech Delivery Panel page.
- Further information from the Ministry of Justice can be found on the government website.
About the Law Society
The Law Society is the independent professional body that works globally to support and represent solicitors, promoting the highest professional standards, the public interest and the rule of law.
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