This Note outlines recent data on the performance of the UK economy, announcements by the Government for capital spending, spending on research and development and action to help businesses gain access to funding. It also looks at proposals for the Government to take more of a role in managing growth, in particular whether the UK needs a more coherent and long-term industrial strategy.
Debate on 18 July: Role of Government in Generating Economic Prosperity and Employment (464KB PDF)
This Note outlines recent data on the performance of the UK economy since the global financial crisis of 2008. It summarises recent announcements by the Government for capital spending, spending on research and development and action to help businesses gain access to funding, including plans for the establishment of a Business Bank. It also looks at proposals for the Government to take more of a role in managing growth, in particular whether the UK needs a more coherent and long-term industrial strategy. The Parliamentary Office of Science and Technology (POST) have prepared a ‘POSTbox’ on the impact of publicly-funded research and development, included at the end of this Note.
Debate on 18 July: Role of Government in Generating Economic Prosperity and Employment (464KB 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 Commercial Payments Bill [HL] seeks to tackle late payments to small businesses. It would impose minimum payment periods for invoices, prohibit the use of retentions in construction contracts and provide the small business commissioner with greater powers. The bill received an unopposed second reading in the House of Lords on 9 June 2026. 30 government amendments were made to the bill at committee stage.
![Commercial Payments Bill [HL]: Progress in the Lords](https://lordslibrary-parliament.studio24.dev/content/uploads/sites/2/2020/01/Business-VIGs-568x426.jpg)
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)