The Bank Resolution (Recapitalisation) Bill [HL] was announced as part of the King’s Speech on 17 July 2024. The bill seeks to enhance the UK’s regime for managing bank failures, by allowing the Bank of England to recover the costs associated with recapitalising failing small banks through a levy on the banking sector.
![Bank Resolution (Recapitalisation) Bill [HL]: HL Bill 2 of 2024–25](https://lordslibrary.parliament.uk/content/uploads/sites/2/2020/09/Economy-1232x922.png)
Research briefing setting out the government’s commitments covering economic affairs, business and trade for the House of Lords debate on the 2024 King’s Speech.
This briefing is the fourth of a series on the post-war history of the UK economy. The series proceeds decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This briefing looks at the 1980s. The decline in the profitability of industry, which began in the 1960s, was reversed in this decade; however, the share of national income received by workers fell to a post-war low.
In Focus
This briefing considers the benefits of sport and physical activity ahead of a House of Lords debate on the subject on 16 May 2024. The government and sports sector stakeholders agree that sport has many benefits for individuals and communities, as well as for the economy more broadly. The government published a new strategy for the sports sector in August 2023. The ambition of the strategy was commended; however, sports charities and the opposition suggested that more was required from the government to deliver on it.
In Focus
The gambling industry has expanded over recent years and increased attention is being paid to the issue of gambling-related harms and the role that the marketing of gambling services plays in exacerbating them. The House of Lords is due to debate these issues on 25 April 2024.
In Focus
The importance of skills is recognised across the main political parties in the UK. Evidence suggests that greater skill levels benefit the economy as a whole but also provide significant economic and social benefits for the individuals who possess them. The House of Lords is due to debate these issues on 9 May 2024.
In Focus
In 2023 the House of Lords Economic Affairs Committee conducted an inquiry into the Bank of England’s operational independence, 25 years after independence was formalised with the passage of the Bank of England Act 1998. This briefing provides a summary of the committee’s findings and the government’s response, ahead of a debate in the House of Lords on 2 May 2024.
In Focus
This briefing is the third of a series on the post-war history of the UK economy, focusing on the 1970s. Following a brief economic boom, inflation and unemployment reached post-war highs and the economy entered a prolonged recession, before slowly recovering towards the end of the decade. Despite this volatility, real household incomes grew significantly over the course of the decade.
In Focus
In the March 2024 budget, the chancellor said that progress was being made towards the prime minister’s economic priorities and that he was therefore able to help households with permanent cuts to taxation. Some of these measures were welcomed. However, commentators noted that taxation was still projected to rise sharply as a share of the economy and that living standards were to be lower at the end of the current parliament than at the start.
Research Briefing
The Offshore Petroleum Licensing Bill was announced as part of the King’s Speech on 7 November 2023. The bill would mandate that the oil and gas regulator hold annual licensing rounds for offshore petroleum production, subject to two tests being met.
Research Briefing
The Alternative Investment Fund Designation Bill [HL] is a private member’s bill introduced by Baroness Altmann (Conservative). The bill seeks to exempt listed investment companies from a series of regulatory requirements to disclose certain costs and charges to their clients, on the basis that such costs are already accounted for in those companies’ share price. The Financial Conduct Authority has introduced temporary measures to mitigate this issue and the government has committed to implementing a long-term legislative solution.
Research Briefing
The bill was introduced to the House of Lords on 6 February 2024. Its second reading and all remaining stages are due to take place on 21 February 2024.
In Focus
This briefing is the second of a series on the post-war history of the UK economy focusing on the 1960s. GDP growth remained high and fluctuating, as it was in the 1950s, but over the course of the decade household income growth slowed and the profitability of UK industry declined.
Current Affairs Digest
Economic growth has long been assumed to be a desirable objective, for governments of all political persuasions. However, a variety of commentators are making the argument that we need to refresh or even rethink our understanding of growth. This briefing considers three arguments from the contemporary debate around growth. First, the case for a renewed drive for market-led growth. Second, the case for a more state-led and mission-oriented form of growth. And third, the case against growth altogether (degrowth).
In Focus
This briefing is the first of a series on the post-war history of the UK economy. The series will go decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This first briefing looks at the 1950s. The economy expanded significantly over the course of this decade, fluctuating between periods of high and low growth, generating broad-based real-terms income growth across the country.
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