In Focus
The UK last set out a formal industrial strategy in 2017. Since 2021, the government has instead pursued various plans for growth. This briefing provides details on the UK’s industrial policies, commentary on the benefits and use of industrial strategies, and brief statistics about UK industry.
In Focus
There has been a decline in the number of bank branches in operation in the UK over the last three decades. This has reportedly impacted many people, including those with disabilities, older people and those living in rural areas. In recent years, the government has sought to mitigate the impact of branch closures by introducing legislation containing provisions to protect access to cash services and publishing a policy statement outlining its minimum expectations to banks regarding services being removed or changed.
Research Briefing
The Post Office (Horizon System) Compensation Bill is a government bill which provides the secretary of state for business and trade with the financial authority to make compensation payments to those individuals who were the victims of the Horizon system scandal. It would mean that compensation could continue to be paid under one of the schemes, known as the Group litigation order (GLO) scheme. Currently, the power to pay compensation under this scheme ceases in August 2024. The bill would also allow the secretary of state to pay compensation to individuals in other compensation schemes and arrangements and in respect of other matters identified in High Court judgments given in proceedings relating to the Horizon system, such as the failure by the Post Office to pay suspension pay to postmasters. The second reading of the bill in the House of Lords is due on 16 January 2024. The bill would extend and apply to England and Wales, Scotland and Northern Ireland. It would commence at royal assent.
Research Briefing
The Data Protection and Digital Information Bill would amend existing data protection legislation and introduce new provisions in areas such as digital verification services and smart data. The bill was carried over from the last session and is due to have its second reading in the House of Lords on 19 December 2023.
Current Affairs Digest
Economic growth has long been assumed to be a desirable objective, for governments of all political persuasions. However, a variety of commentators are making the argument that we need to refresh or even rethink our understanding of growth. This briefing considers three arguments from the contemporary debate around growth. First, the case for a renewed drive for market-led growth. Second, the case for a more state-led and mission-oriented form of growth. And third, the case against growth altogether (degrowth).
In Focus
This briefing is the first of a series on the post-war history of the UK economy. The series will go decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This first briefing looks at the 1950s. The economy expanded significantly over the course of this decade, fluctuating between periods of high and low growth, generating broad-based real-terms income growth across the country.
Research Briefing
The National Insurance Contributions (Reduction in Rates) Bill would give effect to reduced national insurance rates announced by Chancellor Jeremy Hunt in the 2023 autumn statement.
Research Briefing
The Digital Markets, Competition and Consumers Bill is a government bill carried over from the 2022–23 session. It is scheduled to have its second reading in the House of Lords on 5 December 2023.
In Focus
The chancellor presented the autumn statement on 22 November 2023. He said that because of difficult decisions he had taken over the last year, he was able to announce tax cuts in support of boosting growth. However, the Office for Budget Responsibility noted that taxation as a share of gross domestic product (GDP) was still predicted to rise in each of the next five years to a post-war high of 38% of GDP in 2028/29. In addition, commentators have expressed concern that the funding for the tax measures has come at the expense of increased pressures on public services.
In Focus
This briefing considers the current economic situation ahead of the 2023 King’s Speech. It also covers other economy, business and trade-related measures that the government has indicated it may pursue. Such measures include regulatory reform, reforming the way in which building societies can fund themselves, and legislation to implement specific areas of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in UK domestic law.
In Focus
Government plans for adult social care have undergone several changes in the last decade. In December 2022, the House of Lords Adult Social Care Committee published a report examining the adult social care system and making recommendations to make it a “progressive, visible, fairer and kinder system”. In July 2023, the government published a response. It pointed to commitments in its April 2023 white paper, including reform of the adult social care workforce, housing for people who required care and tackling delayed discharge and unnecessary admissions to hospitals.
In Focus
The 50th anniversary of the UK’s value added tax (VAT) occurred on 1 April 2023. VAT was introduced in anticipation of the UK’s entry to the European Economic Community and has since become one of the government’s largest revenue raisers. This article examines the history of VAT and the debate about how it has developed.
Research Briefing
The Northern Ireland Budget (No. 2) Bill is a government bill that would authorise government departments and certain other bodies in Northern Ireland to incur expenditure and use resources for the financial year ending 31 March 2024. The House of Commons has passed the bill and the Speaker has certified the bill as a money bill. In practice this limits the extent to which the House of Lords can propose significant changes.
In Focus
Climate change is expected to have significant impacts across a range of domestic policy areas. Both the government and the independent Climate Change Committee, a statutory advisory body, agree on the need for significant adaption efforts to mitigate related risks. This summer the government is due to publish the latest edition of its five-yearly national adaption programme. This will detail how it plans to go about addressing climate risks and comes 15 years after the Climate Change Act 2008 became law.
In Focus
In January 2023, the House of Lords Communications and Digital Committee published a report on the future of the UK’s creative industries. The report highlighted the contribution the sector makes to the UK economy and criticised the government for being “complacent” in its support for the sector. This article summarises the committee’s recommendations, the government’s response in April 2023, and the government’s ‘Creative industries sector vision’ (June 2023).
Total results (page 4 of 29)