LONDON, England – Attorney General Lord Hermer KC delivered a speech at the Guildhall in the City of London, addressing the importance of the rule of law for underpinning economic growth. The reception was attended by the solicitor general Lucy Rigby MP, international lawyers, members of the UK judiciary, and representatives of barristers’ chambers.
In his remarks, the attorney emphasised that economic growth – the central part of the prime minister’s ‘Plan for Change’ – was not possible without the rule of law.
Adherence to the international rule of law was another key message in the attorney’s speech, providing the necessary conditions of trust between nations and international security in which global free trade, investment flows and international commerce can flourish.
The attorney took the opportunity to celebrate the culture of pro bono work within the legal sector, recognising the works of organisations like the National Pro Bono Centre and the regional pro bono committees.
The attorney-general said:
“There is a crucial link between a country’s commitment to the rule of law and its levels of innovation, inward investment, trade and economic growth. Through the Government’s commitment to the rule of law, we hope to provide the best possible conditions for the UK economy to grow. Businesses need certainty to operate, to invest, and to grow.”
City of London corporation policy chairman, Chris Hayward, said:
“ Growth is fundamentally important, and driving inward investment to power the City of London can help ensure the UK economy is firing on all cylinders. The rule of law, along with the UK’s time zone and our language, is a key pillar of our attractiveness as a place to do business. It underpins trust in our legal and financial systems; fosters economic stability and reinforces our global leadership in both commerce and justice.”