Law Society and Bar Council welcome new Arbitration Bill
updated on 28 February 2025
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The Law Society and Bar Council have welcomed the Arbitration Bill 2025, which received royal assent on Monday 24 February 2025.
The new bill revises the Arbitration Act 1996 by implementing the Law Commission's recommendations, ensuring the legislation continues to position the UK as a leading destination for commercial arbitration. According to the Law Commission, there are at least 5,000 domestic and international arbitrations each year in England and Wales, worth £2.5 billion to the British economy in fees alone.
Read this Practice Area Profile by Vinson & Elkins RLLP to discover more about working in international arbitration.
Law Society President Richard Atkinson explained that currently 40% of global corporate arbitrations are governed by English and Welsh law. He added: “The Ministry of Justice reports that 90% of commercial cases managed by law firms in London involve an international party, which in turn draws more clients in.” Atkinson welcomed the changes, commenting: “As the market evolves, it is imperative that the government maintains our jurisdiction's competitive edge and capitalises on the economic value of our legal system.”
Chair of the Bar Council, Barbara Mills KC, stated that they expect the changes to lead to an increase in disputes being arbitrated in England and Wales. She said: “Modernising our arbitral framework will help ensure the UK continues to be competitive in the global market.”
