The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012.
Financial Services (Banking Reform) Bill (352KB PDF)
The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012. The Bill sets out a new structure for banking with a central element being the ‘ring-fencing’ of banks which separates retail deposit and lending from investment banking operations. This Library Note provides a précis of the report stage and third reading of the Bill in the House of Commons. The Note should be read in conjunction with two House of Commons Library Research Papers: Financial Services (Banking Reform) Bill (28 February 2013, RP 13/15), which contains more detailed information on the background to the Bill, and Financial Services (Banking Reform) Bill: Committee Stage Report (25 June 2013, RP 13/40), which summarises the second reading and committee stage in the House of Commons. House of Commons Library Standard Note, LIBOR, Public Inquiries & FSA Disciplinary Powers (2 May 2013, SN/BT/6376), also offers useful background commentary relevant to the Bill.
Financial Services (Banking Reform) Bill (352KB 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.
