On 11 April 2024, Baker McKenzie launched the Arbitration Bill Progress Tracker, hosted on Global Arbitration News. The Tracker provides an overview of the Arbitration Bill, a guide to the key proposed changes and implications if the Bill is passed, and maps out the Billâs progress, which will be updated regularly.
The UK government asked the Law Commission to review the Arbitration Act 1996 to determine whether any amendments are required in order to ensure that the Act remains fit for purpose and continues to promote the UK as a leading destination for commercial arbitration. The Arbitration Bill was introduced into Parliament on 21 November 2023.
Arbitration Bill re-introduced under Starmer (updated (25 July 2024)
Following former Prime Minister Rishi Sunakâs decision to call the general election earlier this year, the Arbitration Billâs progress in Parliament was halted.
While other pieces of legislation, such as the Post Office Bill, were rushed through their final stages in both the House of Commons and the House of Lords as part of the âwashupâ process â where certain, largely uncontroversial bills in their ultimate stages are fast tracked through the legislative process before parliament is dissolved â the fate of the Arbitration Bill was uncertain.
During the âextendedâ Kingâs Speech, delivered on 17 July 2024, Keir Starmerâs government confirmed its intentions to re-introduce the Arbitration Bill in Parliament. We are pleased to report that the new government has moved swiftly, and the Arbitration Bill was re-introduced by Justice Minister Lord Ponsonby on 18 July 2024. Addressing Parliament, Lord Ponsonby said:
âThis government is committed to securing the UK as a world leader in dispute resolution. Modernising the quarter-century old laws around arbitration will make it quicker, cheaper and more efficient for people and businesses looking to settle legal disputes. And helping our world-leading legal services sector to flourish will cement the UKâs position in this high-value sector â worth at least ÂŁ2.5 billion to the British economy every year.â