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)
The Sovereign Grant Bill is a government bill which would amend how the sovereign grant is set. This is a grant paid to the King to support the work of the sovereign. The bill would enable the size of the sovereign grant to be reduced following the completion of a 10-year works project on Buckingham Palace. The bill received cross-party support and was not amended in the House of Commons.
The Financial Services and Markets Bill [HL] is a wide-ranging bill that aims to reform the way the UK financial services sector is regulated. This briefing provides a summary of the bill’s second reading and committee stage in the House of Lords ahead of its further consideration at report.
![Financial Services and Markets Bill [HL]: Progress in the Lords](https://lordslibrary-parliament.studio24.dev/content/uploads/sites/2/2020/09/Economy-568x426.png)
The Taxation (Energy and Vehicles) Bill is a money bill that would implement three tax measures as part of the government’s package of support to tackle increased energy prices. The bill would increase the electricity generator levy, increase the rate of tax-free mileage allowance for employees, and provide a 12-month vehicle excise duty exemption for HGVs.
