Economy and business by topic
Economy and business includes the following topic areas. Please click the links to access lists of publications by topic:
Business
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Oil and gas industry: outside interests
The Government has committed to phasing out global fossil fuel subsidies and to changing the way that oil and gas is licensed in the UK. However, environmental organisations have argued that outside interests, such as oil companies and climate sceptics, have too much influence on the oil and gas industry in the UK. This includes at board level of the industry’s regulator, the Oil and Gas Authority, and through political donations.
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Electric scooter regulation: should the law be changed?
According to UK law, electric scooters can only be used on private land. However, the Government is considering whether the law should be changed. As part of this consideration, the Department for Transport introduced legislation in July 2020 to enable rental e-scooter trials to take place on public roads and cycle lanes across the UK. The Government awaits the outcome of these trials before making a decision on whether to change the law.
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Subsidy Control Bill
The bill would establish a new domestic subsidy control regime following the UK’s departure from the EU. It sets out principles and other requirements for public authorities to comply with when giving subsidies, as well as oversight and enforcement mechanisms. The bill is due to have its second reading in the House of Lords on 19 January 2022.
Economy
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Subsidy Control Bill
The bill would establish a new domestic subsidy control regime following the UK’s departure from the EU. It sets out principles and other requirements for public authorities to comply with when giving subsidies, as well as oversight and enforcement mechanisms. The bill is due to have its second reading in the House of Lords on 19 January 2022.
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UK corporate debt after Covid-19: what might the impact be?
During the pandemic, levels of debt owed by UK companies have risen. This article discusses the significance of this increase for the vulnerability of firms and their possible behaviour, and the overall health of the economy. It also discusses some additional policy proposals for managing corporate debt after the pandemic.
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Rising energy costs: the impact on households, pensioners and those on low incomes
Energy bills in the UK are predicted to rise considerably over the next year. This is due to issues that have increased wholesale energy costs and have subsequently put a number of energy suppliers out of business. This article outlines these issues and considers the potential impact of increasing energy bills on UK households, particularly on pensioners and those on lower incomes.
Employment
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Motion to annul temporary relaxation of HGV driving time limits and rest patterns
Between 12 July and 31 October 2021, the Government temporarily relaxed the enforcement of retained EU law that sets the driving time limits and rest patterns of heavy goods vehicle drivers. This was in response to disruption caused by the HGV driver shortage and the Covid-19 pandemic, amongst other things. The Drivers’ Hours and Tachographs (Temporary Exceptions) (No. 4) Regulations 2021 extends this temporary relaxation from 1 November 2021 until 11.59pm on 9 January 2022. On 6 December 2021, the House of Lords will debate a motion to annul this instrument.
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Current Affairs Digest: Economics (October 2021)
Catch up on developments in economics with a selection of articles you may have missed. This month we take a look at unemployment benefits in recessions, and green initiatives in public finance.
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Report of the Social Mobility Commission: ‘Social Mobility and the Pandemic’
In July 2021, the Social Mobility Commission published its annual state of the nation report. It warned that the UK has struggled with the “damaging impact” of Covid-19 and as a result social mobility which is “already stagnant” could move backwards. This article considers the findings of the report and the Government’s policy on social mobility.
International trade
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UK relations with Qatar
In recent years, Qatar has experienced significant tensions with its Gulf neighbours following its support for controversial regional actors, including Iran. Following a resolution in early 2021, relations have improved, though a rapprochement with some countries remains slow. The UK enjoys a good relationship with Qatar and recently issued a joint communique with the Gulf Cooperation Council on strengthening ties with the region. However, observers have continued to raise concerns regarding human rights in Qatar, and the treatment of migrant workers ahead of the forthcoming World Cup.
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Subsidy Control Bill
The bill would establish a new domestic subsidy control regime following the UK’s departure from the EU. It sets out principles and other requirements for public authorities to comply with when giving subsidies, as well as oversight and enforcement mechanisms. The bill is due to have its second reading in the House of Lords on 19 January 2022.
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Farming: labour shortages and new trade deals
This article considers recent labour shortages in the farming and food sectors, and the potential impact on farming of the UK’s new trade deals with Australia and New Zealand.
Transport
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Electric scooter regulation: should the law be changed?
According to UK law, electric scooters can only be used on private land. However, the Government is considering whether the law should be changed. As part of this consideration, the Department for Transport introduced legislation in July 2020 to enable rental e-scooter trials to take place on public roads and cycle lanes across the UK. The Government awaits the outcome of these trials before making a decision on whether to change the law.
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Full steam ahead: a century of railway governance
This year marks 100 years since the Railways Act 1921, also known as the ‘Grouping Act’, came into force. The act reorganised ownership of the railways, merging 120 railway companies into four regional groups. These groups became known as the ‘big four’. Fast forward 100 years, and the Williams-Shapps Plan for Rail is set to change the organisation and ownership of the railways once more. This article explores these changes.
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The Integrated Rail Plan
On 16 December 2021, the House of Lords is scheduled to hold a short debate on a motion tabled by Lord Berkeley (Labour). He will ask the Government “how the Integrated Rail Plan will deliver the (1) capacity, and (2) regional connectivity, sought for the Northern Powerhouse area”. This article provides background information on the plan, a brief overview of the plan itself and a survey of the reaction it has received.
