London will house a cybercrime court complex
The court will also help the Court and Tribunal Service move to digitised channels
The City of London Corporation has backed plans to build a new state-of-the-art court complex to replace civil court, the Mayor's and City of London County Court and Magistrates' Court.
The multi-purpose court will comprise 18 courtrooms and will be designed to house hearings related to fraud, economic crime and cybercrime as its main mission. Other criminal and civil cases will also be heard at the facility, while The Old Bailey will remain as it is now as part of the proposals.
The plans form part of the HM Courts and Tribunal Service's (HMCTS) aims to digitise its services, with the organisation using the super-court to make the switch from paper to digital channels.
"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," said Justice Minister Dominic Raab. "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."
The next stage of the court's development will be to conduct a feasibility study to work out how much it will cost and where the funding will come from. This audit will be led by the City Corporation, which will also determine the economic impact of having a court set up to hear financially-motivated cases.
"Our legal system has been an example to the rest of the world. Playing host to some of the world's leading regulators, financial services and tech firms, the City is a natural choice to house this modern judicial centre," added Catherine McGuinness, policy chairman at the City of London Corporation.
"This proposal will make sure London continues to set the highest legal standards domestically and internationally. Our Rule of Law is one of the many reasons why London is the number one financial centre in the world and this new court will add to our many existing strengths.