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What is English law worth?

Time someone provided hard figures

Photo: Kirsty O'Connor/PA Wire/PA Images

What is the value of English law and its reputation for fairness, flexibility and integrity? Most people would answer this question with a soundbite, not a number. The rule of law is assessed descriptively and not quantitatively. The word “value” translated in terms of respect for our traditions, providing a useful filler for any speech in the City or Whitehall—and a reference to Magna Carta normally follows in short order.

But if we are to secure a steady return from our rule of law brand,…

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