The UK’s arts and entertainment sector has been one of the areas worst affected by the coronavirus pandemic. The decline in revenues and the number of workers furloughed over the past few months is second only to the accommodation and food sector. This article examines the impact of the pandemic on the UK’s cultural industry and the Government’s recently announced support package worth £1.57 billion aimed at helping the sector recover.
Documents to download
-
Bank of England and Financial Services Bill (305 KB, PDF)
The Bank of England and Financial Services Bill [HL] is a government bill prepared by the Cabinet Office. The Bill received its first reading in the House of Lords on 14 October 2015, and is due to be read a second time on 26 October 2015. As set out in the Bill’s Explanatory Notes, it seeks to:
[A]mend governance and accountability arrangements at the Bank of England (the Bank), expand the scope of and make changes to the Senior Managers and Certification Regime, permit the extension of the Government’s Pension Wise service, and allow for some flexibility to change which legal entities are authorised to issue commercial banknotes in Scotland and Northern Ireland.
The Bill is split into three main parts. The first sets out the proposed changes to the Bank of England’s governance and to procedures connected to its accountability. The second includes a number of provisions linked to the regulation of financial services, particularly the introduction of the Senior Managers and Certification Regime (SM&CR). The third part of the Bill contains provisions on the issuing of banknotes in Scotland and Northern Ireland. This Library Note discusses some of the changes in parts one and two of the Bill in further detail, particularly those related to the Bank’s governance, the new accountability arrangements, and the changes to the SM&CR.
Documents to download
-
Bank of England and Financial Services Bill (305 KB, PDF)
Related posts
-
-
The coronavirus lockdown was introduced to reduce the spread of the disease. However, it also gave rise to substantial costs, both to the economy and in areas such as health, education, domestic violence and inequality. This article considers one analysis of these costs and how they compare to the benefits of the lockdown. This is the subject of an oral question in the House of Lords on 28 July 2020.
-
In July 2020, as part of its economic response to the Covid-19 pandemic, the Government announced an immediate cut to stamp duty on residential properties in England and Northern Ireland until 31 March 2021. This article examines the bill which would provide for this change.
