Next week, the Government will announce its long-awaited decision on whether to commit £100m to building a new Commercial Court.
On 24 February, Department of Constitutional Affairs (DCA) civil servant Mark Camley will announce whether the project he is leading to build a new £100m Commercial Court has received the green light from the Treasury.
The DCA has drawn up plans for the new Commercial Court to be housed within the Royal Courts of Justice. However, campaigners for a new Commercial Court, including senior judges, have told The Lawyer they expect the building to be used for Lord Falconer’s planned new Supreme Court instead.
The Commercial Court, which is estimated to be worth around £8bn a year in terms of invisible earnings for the UK, is currently based at St Dunstan’s House, off the Strand.
One leading Commercial Court campaigner said: “How ridiculous that something that brings in £8bn a year is overlooked for a court that doesn’t even exist yet.”