The European Centre for International Political Economy (ECIPE) recently published a study suggesting that the increase in collective litigation could cost the UK economy GBP 18 billion. Tom Snelling commented, “The ECIPE report has understandably attracted significant attention, especially given the GBP 18 billion headline figure.”
Referring to the study, Tom added: “Its observation that ‘many of the businesses targeted by these actions operate in sectors identified by the government as critical to economic growth’ requires some forensic dissection. First, the Labour government’s identification analysis may itself be susceptible to legitimate critique.
“Second, ultimately key means by which unmeritorious litigation is discouraged is an amalgam of effective regulation of those seeking to bring such claims and the robust testing of them by the English Courts, wielding ‘loser pays’ adverse costs as a deterrent.”
Read more about Tom Snelling’s practice here.