This House of Lords Library Briefing Pack contains a selection of material relevant to the forthcoming debate on correspondence between the Competition and Markets Authority and the Secretary of State for Business, Energy and Industrial Strategy setting out proposals on legislative and institutional reforms to safeguard the interests of consumers and to maintain and improve public confidence in markets.
Competition and Markets Authority: Proposed Reforms (198 KB , PDF)
Competition and Markets Authority: Proposed Reforms (198 KB , PDF)
In the autumn budget the chancellor announced changes to inheritance tax reliefs. From April 2026, taxes would apply to agricultural assets over £1mn (or up to £3mn in certain circumstances). The government has said this will just affect the wealthiest landowners and disincentivise buying agricultural land to avoid tax. Farming groups have argued the policy is a threat to the future of family farming.
In February 2024 the House of Lords Communications and Digital Committee published a report on large language models and generative AI. It highlighted the opportunities and risks this technology offers, and recommended actions the government should take to support the market while mitigating risks. The new government has said it will legislate to address safety risks arising from generative AI.
On 30 October 2024, Chancellor Rachel Reeves delivered her first budget which included the details of the settlement for the Department for Culture, Media and Sport. It also contained more general measures which relate to the cultural sector. This briefing gives an overview of how the cultural sector is currently funded, what was said in the budget in this area and what the sector has said in reaction to the announcements.
