The UK must send an assessment of its economic position to the European Union. Parliament is required to approve the documents which form the basis of this assessment.
Economic Assessments for the European Union (294 KB , PDF)
The European Union requires member states to submit information on their medium-term economic and fiscal position, known as their convergence programme. This requirement applies to the UK until the end of the transition period on 31 December 2020. The exercise is based on rules in the EU’s stability and growth pact, which aims to ensure that member states maintain sound public finances.
Both Houses of Parliament must approve the documents on which the UK’s assessment is based. The motion states that these documents are the spring 2020 budget and the Office for Budget Responsibility’s (OBR) Economic and Fiscal Outlook and Fiscal Sustainability Report. HM Treasury has also published a separate convergence programme based on these documents.
The budget and OBR publications do not fully reflect the impact of coronavirus (Covid-19). The budget, published on 11 March, contained some measures in response to the virus, but these have since been significantly expanded. The Economic and Fiscal Outlook was finalised in February 2020, before the effects of the virus, or the Government’s response to it, were known. The Fiscal Sustainability Report was published in 2018.
On 5 May 2020, Lord True (Conservative) is due to move that “the virtual proceedings do consider Her Majesty’s Government’s assessment of the medium-term economic and fiscal position as set out in the latest budget document and the Office for Budget Responsibility’s most recent Economic and Fiscal Outlook and Fiscal Sustainability Report, which forms the basis of the United Kingdom’s convergence programme”.
Economic Assessments for the European Union (294 KB , PDF)
On 9 March, the Covid-19 Day of Reflection 2025 took place to mark five years since the start of the pandemic in the UK. This briefing has been prepared ahead of a debate in the House of Lords focused on the support available to those bereaved because of Covid-19. It outlines the help available for families and sets out background information on the Covid-19 Day of Reflection, as well as the UK Covid-19 inquiry.
The government introduced the Finance Bill in the House of Lords on 4 March 2025. The House is scheduled to debate the bill at second reading and all remaining stages on 19 March 2025.
Over the last three decades, the number of bank branches in the UK has declined due to advances in technology and changing customer habits. Stakeholders have argued that these closures have negatively affected rural communities. In recent years, successive governments and the Financial Conduct Authority have taken action aimed at ensuring sufficient access to banking services, including for rural communities. This briefing provides an overview of these measures, as well as information on the number of bank closures and their impact on rural communities.
