Liaison Committee follow-up report: Tackling financial exclusion

On 25 May 2022, the grand committee of the House of Lords is due to debate the House of Lords Liaison Committee’s report ‘Tackling financial exclusion: A country that works for everyone? Follow-up report’. This report examines the progress made by the government and key stakeholders in implementing the recommendations made in the original 2017 select committee report on financial exclusion. It found that “four years on, financial exclusion is still highly prevalent in the UK”.

Liaison Committee follow-up report: Tackling financial exclusion

  • In Focus

    House of Lords Science and Technology Committee report: Catapults

    In November 2020, the House of Lords Science and Technology Committee published the ‘Catapults: Bridging the gap between research and industry’ report. This considered the role technology and innovation catapults have played in encouraging investment and collaborations in UK innovation. The committee made several recommendations, including making certain changes to the catapult funding framework. The House of Lords is scheduled to consider the report and recent developments on 19 May 2022.

  • In Focus

    Queen’s Speech 2022: Energy and climate change

    The Government has committed to reduce UK carbon emissions to net zero by 2050 and improve the security of the UK’s energy supply. It has said it intends to improve strategic planning in the UK’s electricity and gas infrastructure through the establishment of an independent future system operator. It has also said it will introduce measures intended to increase the use of hydrogen gas and carbon capture technology in the UK energy sector.

  • In Focus

    Finance Bill Sub-Committee report: off-payroll working

    In April 2020, the House of Lords Economic Affairs Finance Bill Sub-Committee published the ‘Off-Payroll Working: Treating People Fairly’ report. This made several recommendations to the Government, including considering alternative options to the off-payroll working rules. The House of Lords is scheduled to consider the report and recent developments on 27 April 2022.

  • In Focus

    Levelling up: plans for the South West of England

    Research has shown that the UK is one of the most geographically unequal countries in the developed world. Addressing these inequalities by ‘levelling up’ is a priority for the Government. This article examines inequalities in the south-west of England, the Government’s strategy to address them and the reaction to these plans.

  • In Focus

    Unpaid taxes: the ‘tax gap’

    HM Revenue and Customs (HMRC) produces estimates of the tax gap—the tax revenue HMRC should receive but does not. Its most recent estimate for 2019/20 is £35 billion, or approximately 5% of total tax liabilities. As a percentage of total taxes, the gap has been declining in recent years. The Government’s tax strategy includes measures to reduce it further. However, some commentators have argued these need more careful consideration.

  • In Focus

    National Insurance Contributions (Increase of Thresholds) Bill

    The National Insurance Contributions (Increase of Thresholds) Bill is being fast tracked through Parliament to implement increases to national insurance thresholds announced in the March 2022 spring statement. There was broad cross-party support for the bill when it completed all its House of Commons stages on 24 March 2022. However, opposition MPs criticised the spring statement for not providing enough targeted support to those on low incomes affected by the rising cost of living.

  • In Focus

    Spring statement 2022: key announcements and analysis

    The Chancellor of the Exchequer, Rishi Sunak, presented the 2022 spring statement to the House of Commons on 23 March 2022. He said the measures in the statement would support the British people in dealing with rising costs of living. He announced some changes to the tax system and new spending commitments. Alongside the statement, the Office for Budget Responsibility (OBR) published revised forecasts for the economy and the public finances.

  • In Focus

    Pension Schemes (Conversion of Guaranteed Minimum Pensions) Bill

    The Pension Schemes (Conversion of Guaranteed Minimum Pensions) Bill is a private member’s bill introduced into the House of Commons by Margaret Ferrier (Independent MP for Rutherglen and Hamilton West). It aims to clarify how occupational pension schemes can convert historic rights to certain pension entitlements into current scheme benefits. In the House of Commons stages both the Government and the Opposition supported the bill.

  • Research Briefing

    Economic Crime (Transparency and Enforcement) Bill

    The Economic Crime (Transparency and Enforcement) Bill is a government bill that is being fast-tracked through Parliament. It completed its second reading and remaining stages in the House of Commons on 7 March 2022. The bill would make provision in three areas: part 1 would introduce a register of the beneficial owners of overseas entities that owned land in the UK; part 2 would make changes to strengthen unexplained wealth orders; and part 3 would make changes to sanctions legislation to help deter and prevent breaches of financial sanctions.

  • In Focus

    Ukraine sanctions and the Swift system

    There has been extended debate on whether Russia should be banned from the international Swift system as part of the package of economic sanctions following its invasion of Ukraine. On 26 February 2022, the international community announced that selected Russian banks would be barred. This article looks at what Swift is, why it is significant and whether a ban would be likely to achieve its intended effect of restricting the Russian economy.

  • In Focus

    Impact of the Protocol on Ireland/Northern Ireland on recent political developments in Northern Ireland

    Amid ongoing objections to the protocol from unionist parties, Northern Ireland’s First Minister recently resigned. This followed an attempt by the Minister for Agriculture, currently subject to legal challenge, to halt checks required by the protocol on goods arriving in Northern Ireland from Great Britain. This article considers the Government’s assessment of the protocol’s impact on recent political developments in Northern Ireland ahead of a debate in the House of Lords.

  • In Focus

    Finance (No. 2) Bill

    The Finance (No. 2) Bill is a government bill intended to give lasting statutory effect to tax measures announced both in the October 2021 budget and more recently. The bill underwent a series of changes during its passage through the House of Commons. This briefing summarises these developments and also some of the criticism of the bill’s objectives from the House of Lords Economic Affairs Finance Bill Sub-Committee.

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