In Focus
The chancellor of the exchequer, Jeremy Hunt, will deliver a budget on 15 March 2023. This article sets out the economic and fiscal backdrop for the budget, outlining some of the key issues the government is facing.
In Focus
In November 2022 the government announced a new review of the efficiency of departmental spending. The government has said that savings from the latest review will allow spending to be focused on priority areas, but some parliamentarians have cautioned that the drive for efficiency savings could lead to counterproductive side effects. This article looks at the reaction to the announcement of the latest review.
In Focus
24 February 2023 will mark the anniversary of Russia’s invasion of Ukraine. This article considers the current state of the conflict and its impact on Ukraine, the role of the UK and other allies supporting Ukraine, and how the situation might develop.
Research Briefing
In the absence of functioning devolved institutions the UK government has intervened to set Northern Ireland’s budget. The Northern Ireland Budget Bill provides the relevant authorisations and appropriations for the full 2022/23 financial year and includes provisions to allow public spending to continue into the early months of the 2023/24 financial year. The bill passed has been fast-tracked through the House of Commons and its second reading in the House of Lords is due to take place on 7 February 2022.
In Focus
Disabled individuals and their households have, on average, lower incomes than their non-disabled counterparts. They often incur additional costs related to the treatment and mitigation of their disability. Furthermore, they typically spend a greater share of their income on food and energy, the commodities driving the current surge in inflation. In recognition of Disability History Month—running from 16 November to 16 December this year—this article considers how disabled individuals and their households are impacted by the rising cost of living.
Research Briefing
The Finance Bill is a government bill intended to give lasting statutory effect to the tax measures announced in the November 2022 autumn statement. The bill completed its passage through the House of Commons, unamended, on 30 November 2022 and was introduced in the House of Lords on 1 December 2022. A second reading debate is due to take place in the House of Lords on 20 December 2022.
In Focus
The Chancellor of the Exchequer Jeremy Hunt presented the autumn statement 2022 to the House of Commons on 17 November 2022. It was the first fiscal event to be accompanied by an Office for Budget Responsibility forecast since the spring statement on 23 March 2022. The chancellor said that the government’s key priorities were stability, growth and public services, and that difficult decisions were required to reduce inflation and mortgage rate rises.
Current Affairs Digest
This piece sets out commentary from economists and academics analysing the current issues with global inflation. In particular, it considers the impact of rising interest rates and whether a ‘soft landing’ is possible.
In Focus
This article sets out the transition away from LIBOR which, until recently, was a key benchmark set of interest rates underpinning trillions of pounds worth of financial contracts. The article has been written ahead of a House of Lords question for short debate on the use of LIBOR.
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