This House of Lords Library briefing has been prepared in advance of a debate that is scheduled to take place in the House on 17 November 2016 on the impact of the level of sterling on the economy and investment.
Strength of the Pound Sterling: Economy and Investment (464KB PDF)
The International Monetary Fund describe the UK’s currency exchange as free-floating. Under such a system the value of a given currency is the result of a set of complex relationships between economic conditions and market forces. Consequently, the value of the pound has always fluctuated against other currencies in response to these forces. Following the result of the UK’s referendum on its membership of the EU, the value of the pound against both the US dollar and the euro fell markedly. The exchange rate of the pound against the US dollar and the euro has continued to fluctuate. A weakened pound has several implications for various aspects of the UK economy, notably imports and exports and the price of goods and services.
Daily Spot Exchange Rate between Pound Sterling and the US Dollar and the Euro, 4 November 2015 to 4 November 2016
(Source: Bank of England, ‘Spot Exchange Rates; XUDLERS and XUDLUSS’, accessed 4 November 2016)
This briefing presents information from the International Monetary Fund on different ways in which currency exchange systems can be classified. It then provides recent data on the value of the pound and commentary and analysis on the implications this has for aspects of the UK economy.
Strength of the Pound Sterling: Economy and Investment (464KB PDF)
The UK is a signatory to the convention establishing an international claims commission for Ukraine. The commission would assess claims for compensation for damage and losses caused by Russia’s full-scale invasion of Ukraine in 2022. The House of Lords International Agreements Committee has broadly welcomed the convention, but also raised concerns about the scope and efficacy of the commission.
Recent tensions in Bosnia and Herzegovina have raised concerns about stability and security in the country, particularly due to reports of external influence and recent secessionist rhetoric in Republika Srpska. This briefing outlines recent developments, international responses and the UK government’s position on Bosnia and Herzegovina ahead of a House of Lords debate on the subject.
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.
