The UK fiscal outlook is expected to remain challenging as rising borrowing costs could reduce government headroom against its fiscal rules. Spending remains above pre-pandemic levels and the tax take is forecast to reach a historic high within five years. The Burnham government said it would honour Labour manifesto commitments on tax but has promised reform in several areas—such as adult social care—that could add to spending pressures.
The Leaseholder Remediation (Building Safety) Bill [HL] is a private member’s bill that would prevent developers and building owners from recovering remediation costs for systemic defects from protected leaseholders in residential buildings containing any leasehold properties, with no minimum height or storey threshold. Systemic defects would include unsafe cladding and structural deficiencies. The House of Lords is scheduled to debate the bill at second reading on 11 September 2026.
![Leaseholder Remediation (Building Safety) Bill [HL]: HL Bill 18 of 2026–27](https://lordslibrary.parliament.uk/content/uploads/sites/2/2026/08/seb-doe-JIOlbLYmWlk-unsplash-1232x693.jpg)
Public debt in the UK has risen since the 2008 global financial crisis, and interest payments on that debt have increased substantially. This briefing examines three broad perspectives on public debt: first, that high public debt poses a risk to economic growth; second, that deficit financing can be beneficial and the cost of public debt is lower than generally assumed; and third, that the government’s role as a currency issuer allows for a new perspective on public debt.
In Focus
In December 2025, the House of Lords Economic Affairs Committee published a report on preparing for an ageing society. It urged the government to address the economic challenges this poses, arguing that the greatest impact would come from supporting those in their mid-50s to mid-60s to remain in or return to work. The government said it was responding to the pressures of an ageing society through a number of measures.
Research Briefing
The Rights of Boat Dwellers Bill [HL] would establish a right to access public services for boat dwellers and prevent relevant authorities from taking certain actions—such as eviction proceedings—that might infringe on the right to a secure home or the right to access public services.
In Focus
In October 2025, the House of Lords Public Services Committee published a report on reforming the Child Maintenance Service (CMS). It said several key areas must be improved to enable the CMS to work more effectively. The government accepted some recommendations and rejected others. The committee said it was pleased about certain actions the government had taken but it was disappointed by the lack of progress made in many areas.
Research Briefing
This briefing explores what announcements the government could make in the King’s Speech on 13 May 2026 about economics, business and trade. It also summarises the current economic situation.