The Telecommunications (Security) Bill is a government bill to improve the regulation of the UK telecoms market in order to protect the security of the UK’s telecoms infrastructure. Second reading of the Telecommunications (Security) Bill is scheduled to take place in the House of Lords on 29 June 2021. This briefing provides a summary of the bill and its passage through the House of Commons.
The Finance Bill is a government bill intended to give lasting statutory effect to the tax measures announced in the March 2021 budget. The bill underwent a series of changes in its passage through the House of Commons. The House of Lords Economic Affairs Finance Bill Sub-Committee criticised a draft of the bill in some specific areas. The Government accepted some of the committee’s recommendations but rejected others.
The Government has proposed new powers for Her Majesty’s Revenue and Customs (HMRC) to address tax avoidance, enhance information gathering, and improve tax compliance. These measures were the subject of a report from the House of Lords Economic Affairs Finance Bill subcommittee, which found that some of these powers were both disproportionate and poorly targeted.
Research Briefing
The Professional Qualifications Bill [HL] would make provisions relating to professional qualifications and their recognition in the UK. It is scheduled to have its second reading in the House of Lords on 25 May 2021.
Research Briefing
This proposed law seeks to bring more financial assets into the dormant assets scheme, allowing them to be distributed to good causes. A dormant asset is a financial product that has not been used for many years and which the provider has not been able to reunite with its owner.
Current Affairs Digest
Catch up on economics articles you may have missed. This month we take an in-depth look at the funding of devolved governments.
In Focus
In the 2020 spending review, the Government cut aid spending from a target of 0.7% of GNI to 0.5%. The Government said in its recent integrated review of security, defence, development and foreign policy it would use aid spending “more strategically” to increase the UK’s impact as a force for good. On 28 April 2021, the House of Lords is due to debate the reduction in aid spending and its impact on achieving the integrated review’s objectives.
In Focus
Declines in biodiversity could lead to economic and political instability and potentially threaten the survival of life on earth. The Government has taken a range of steps to counter biodiversity loss, although measures of success are mixed. The independent Dasgupta review has recommended placing monetary values on natural capital. Two forthcoming international conferences provide opportunities for further global initiatives on biodiversity.
In Focus
The coronavirus pandemic and the restrictions introduced to manage it has had a large impact on the UK economy, jobs and businesses. On 20 April 2021, the House of Lords will debate the steps being taken to protect jobs and livelihoods as the economy recovers. This article provides links to related reading material.
In Focus
Attendees at a United Nations (UN) summit more than 25 years ago defined an inclusive society as a “society for all”. Policy responses have been introduced in the years since, though questions remain about how progress can be measured. The Covid-19 pandemic has represented a setback towards realising the goal in many areas, but some have identified an opportunity to redouble efforts towards achieving ambitions in the pandemic’s wake.
In Focus
The Government’s ‘green book’ describes how major public sector investment projects are assessed. In March 2020, the Government announced a review of the approach, to improve how the green book supports strategic priorities such as its ‘levelling up’ agenda and the transition to net zero greenhouse gas emissions. The review’s conclusions were published in November 2020, followed by a revised green book in December 2020.
Research Briefing
The budget set out the Government’s plans for taxation and spending over the next five years. It also included the Office for Budget Responsibility’s assessment of the economy and forecasts for growth, the public sector finances, unemployment and inflation. It illustrated the effect of coronavirus on the economy and described how the Government aims to deal with the recovery from the pandemic.
In Focus
Women have been specifically affected by the economic impacts of the coronavirus pandemic. Reasons for this include that they are over-represented in some of the worst-hit sectors, and that they do a greater share of unpaid care. The Government has said it wants women’s economic empowerment to be a focus in the post-pandemic recovery period. But it has faced criticism for not taking enough account of gender equality in its approach.
Current Affairs Digest
Catch up on economics articles you may have missed. This month we take an in-depth look at the economics of Scottish independence.
Current Affairs Digest
Catch up on the world of economics with a selection of articles you may have missed. This month we take a look at whether the state should take equity shares in private companies needing support through the pandemic.
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