In Focus
Most official data is produced with a lag, making timely assessments of the economic impact of coronavirus difficult. The disruption may also have made it harder to collect accurate statistics. This article looks at a new set of indicators that the Office for National Statistics has produced to address these issues. It also reports suggestions for other measures to shed light on the impact of the pandemic, including from countries.
Research Briefing
This government bill would provide parliamentary authorisation for Windrush compensation scheme payments. While the bill has received cross-party support, opposition parties have remained critical of the compensation scheme.
In Focus
This article considers the role of the banking sector in the UK’s response to coronavirus. It describes key policy announcements in relation to the banks, many of which are intended to support the wider economy. It also reports some ways in which the banks themselves have responded, including on overdrafts and branch opening hours. Finally, it summarises some criticisms of the sector’s activities in relation to the pandemic.
In Focus
This article looks at the Government’s role as ‘insurer of last resort’. Over time, the areas where it takes this role have expanded from basic military, health and welfare provision to include, for example, elements of flood, terrorism and travel risks. Coronavirus has widened this scope further. The article also considers the costs of providing cover, and whether the private sector might cover more of the risks arising from pandemics.
Research Briefing
What changes are taking place regarding the administration of business rates and their revaluations? This briefing explores the latest Government policy on the subject.
Research Briefing
This legislation forms part of the Government’s policy to improve the country’s digital infrastructure. It seeks to make it easier for network operators to respond to requests to install broadband infrastructure in certain buildings, such as flats, if they are unable to contact the relevant rights holder.
Research Briefing
The Chancellor of the Exchequer delivered the first budget since the 2019 election on 11 March 2020. It contained a series of measures to counteract threats from the coronavirus (COVID-19). The Chancellor also announced changes to taxation policy and an increase in public spending.
Research Briefing
Reducing the number of road casualties is one of the targets of sustainable development goal 3.
In Focus
Spending reviews set out the Government’s plan for much of its expenditure over the following few years. This article summarises the current position in the spending review cycle. It also describes how reviews relate to budgets, which take place more frequently, and to fiscal rules, which set targets for overall government debt and deficit. Finally, it considers the possible impact of coronavirus on these three elements of fiscal policy.
Research Briefing
Is it possible to grow the economy and protect the environment?
Research Briefing
Many countries, including the UK, have developed ways of measuring national wellbeing to complement gross domestic product as the main indicator of national performance. Proponents argue wellbeing data can help in identifying government spending priorities and evaluating which interventions are successful in improving people’s lives. There are calls for a wellbeing approach to be better embedded in policymaking.
Research Briefing
This House of Lords Library briefing provides information on the Wellbeing of Future Generations Bill [HL] in advance of its second reading, due to take place in the House of Lords on 13 March 2020.
In Focus
Fiscal rules aim to keep public spending and the national debt sustainable by setting limits on, for example, the budget deficit. This article considers the history of fiscal rules in the UK, and criticisms of them. It also looks at the new Government’s possible approach, given statements in election manifesto and the December 2019 Queen’s Speech. The budget, on 11 March 2020, may set out the new fiscal rules.
Current Affairs Digest
Catch-up on economic articles you may have missed from February 2020, including on the link between quality of work and health.
Research Briefing
This House of Lords Library Briefing has been prepared ahead of a debate on 5 March 2020 in the House of Lords on the following motion: Lord Young of Norwood Green to move that this House takes note of the role of the BBC and public service broadcasting to the United Kingdom’s economy and creative culture.
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