This Library Note provides background reading in advance of the debate in the House of Lords on 21 June on the Government’s growth strategy for the UK economy, summarising the measures so far announced by the Government and commentary on these measures and the UK economic situation from a range of commentators and observers.
Debate on 21 June: Economic Growth Strategy (847KB PDF)
This Library Note provides background reading for the debate to be held on 21 June on ‘The Importance of the Government’s Growth Strategy for the UK Economy’. Sections 1 to 5 provide an overview of the Government’s published plan for growth and the main policies and announcements made to date. Section 6 outlines the Office for Budget Responsibility’s latest economic forecasts. Section 7 summarises recent reaction and comment on the UK’s economy, prospects for growth and policies to achieve growth, expressed by a range of observers and organisations. Section 8 outlines the results of business confidence and consumer surveys. The Note concludes with a summary of the Governor of the Bank of England’s and Chancellor of the Exchequer’s Mansion House speeches.
Debate on 21 June: Economic Growth Strategy (847KB PDF)
Concerns have been raised about levels of welfare spending in the UK and increasing numbers of young people not in education, employment or training. This briefing sets out statistics, government policy and commentary on welfare and youth employment. This includes the government’s youth guarantee, its ‘Get Britain working’ policies and the interim report by Alan Milburn on young people and work.
Rural areas contribute a significant proportion of England’s economic output. The government has announced several policies intended to support growth in the rural economy, including farming. However, it has faced criticism for the delay in outlining its overall strategy for the agricultural sector. This briefing provides data on the rural economy and summarises government policy and stakeholder reaction
The Financial Services and Markets Bill [HL] is a government bill that would make reforms to several areas of financial regulation, including reforms to the Financial Ombudsman Service, abolishing the Payment Systems Regulator, introducing a ‘provisional licences’ authorisation scheme, and making reforms to the UK’s bank ring-fencing regime. Its second reading in the House of Lords is scheduled to take place on 8 June 2026.
![Financial Services and Markets Bill [HL]: HL Bill 5 of 2026–27](https://lordslibrary-parliament.studio24.dev/content/uploads/sites/2/2026/06/tadas-petrokas-G7nWQwb6AP4-unsplash-568x320.jpg)