In Focus
The next UK-wide census was due to take place in March 2021. However, the Scottish Government has recently announced that the census in Scotland will be delayed until 2022. This article, marking the centenary of the Census Act 1920, considers the implications of the Scottish announcement and also other policy developments relating to the forthcoming census.
In Focus
A range of data is available to measure child poverty. This article looks at official statistics on children in low income households with someone in work. It then considers Government policy in the area, and also discusses the possible impact of the coronavirus pandemic. Child poverty in working households is the subject of an oral question in the House of Lords on 15 July 2020.
Research Briefing
The Finance Bill is a government bill intended to give the tax measures announced in the spring budget 2020 lasting statutory effect.
In Focus
Aviation has been one of the hardest hit sectors in the coronavirus pandemic. This article looks at Government support for airlines and also at criticisms of policies such as the quarantine. It then considers debates about airlines’ reactions in areas such as employment and customer refunds. The impact of the pandemic on airlines is the subject of an oral question in the House of Lords on 29 June 2020.
Current Affairs Digest
This article summarises a selection of commentaries on monetary financing, which is the central bank creating money on which interest is not paid. It sets out the pros and cons of the monetary financing approach, and discusses proposals for mitigating some of the risks involved. It also considers arguments that the Bank of England’s existing policy of quantitative easing (QE) is a form of monetary financing.
In Focus
The Government’s furlough scheme helps companies retain staff during the pandemic. This article considers proposals for a similar system covering physical premises, whereby the Government would help pay rent and services charges for companies in certain sectors. Similar schemes operate in Denmark and Sweden. The Government has not responded directly to the proposals, which are the subject of an oral question in the House of Lords on 15 June 2020.
Research Briefing
Coronavirus (Covid-19) has had major implications for the UK economy. There have been debates about a number of possible changes to economic policy when the UK enters the recovery phase. These include: possible major reforms to fiscal policy; whether the Government should facilitate the reallocation of jobs and capital away from the hardest hit sectors of the economy; what measures could be taken if the virus exacerbates inequalities in the UK; and whether the recovery is an opportunity to bring about fundamental changes in the economy and society.
In Focus
The British Business Bank operates a series of loan schemes to support companies during the pandemic, including the Coronavirus Business Interruption Loan Scheme (CBILS). This article summarises the schemes and policy debates around them. It includes data on loan take-up up to 22 April. Coronavirus support through the British Business Bank is the subject of an oral question in the House of Lords on 30 April 2020.
Current Affairs Digest
These articles consider the effect of coronavirus, first, on the UK economy; and second, on global poverty. On the UK economy it summarises two commentaries that attempt to draw lessons from the earlier pandemics, but reach different conclusions. On global poverty, it reports two estimates of the implications of the pandemic for developing countries and for the UN sustainable development goal to eliminate extreme poverty.
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.
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
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.
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
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.
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