Steel Industry (Nationalisation) Bill: HL Bill 22 of 2026–27

The Steel Industry (Nationalisation) Bill is a government bill that would provide powers to nationalise a company involved in steel manufacturing where it is in the public interest. It completed its House of Commons stages on 9 June 2026 and is scheduled for second reading in the House of Lords on 16 June 2026. The government has explained the bill is being fast-tracked as it believes it is necessary to safeguard the future of the UK steel industry. It says this is important for the UK economy, national security and critical infrastructure.

Steel Industry (Nationalisation) Bill: HL Bill 22 of 2026–27

Commercial Payments Bill [HL]: HL Bill 4 of 2026–27

The Commercial Payments Bill seeks to tackle late payments to small businesses, estimated to affect 44% of invoices. 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 was introduced in the House of Lords on 19 May 2026 and is due to receive its second reading on 9 June 2026.

Commercial Payments Bill [HL]: HL Bill 4 of 2026–27

Financial Services and Markets Bill [HL]: HL Bill 5 of 2026–27

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

  • In Focus

    Working from home: Lords Home-based Working Committee report

    The House of Lords Home-based Working Committee published its report on home working in November 2025. The report examined how remote and hybrid working has affected workers, employers, and the UK’s wider economy and society. The committee said one of its key findings was that home working could help more people into work. The committee made a number of recommendations for the government, which the government responded to in February 2026.

  • In Focus

    Strengthening Northern Ireland’s voice in the context of the Windsor Framework: Lords Northern Ireland Scrutiny Committee report

    The House of Lords Northern Ireland Scrutiny Committee published a report in October 2025 examining how Northern Ireland politicians and stakeholders can participate in the Windsor Framework structures. Its findings overlapped with those of an independent review of the Windsor Framework commissioned by the government. In response, the government set out how it was working to engage stakeholders and facilitate democratic scrutiny. It is also creating a new ‘one stop shop’ to help businesses understand the rules that apply under the Windsor Framework.

  • In Focus

    ‘Tokenised deposits’: What are they and how are they being used?

    For many years companies and individuals have used distributed ledger technology (DLT) to create and trade cryptocurrencies. Now some banks are starting to use DLT to create ‘tokenised deposits’: digital representations of bank deposits that can be sent and received more easily than traditional bank money. This briefing looks into how tokenised deposits are being used and discusses the potential risks and benefits.

  • In Focus

    UK-India trade deal

    This briefing provides details on the trade deal signed between the UK and India in July 2025. It includes information on parliamentary scrutiny of the deal, including the report by the House of Lords International Agreements Committee. The government expects the deal to boost UK trade with India and UK GDP. However, concerns have been raised over ongoing negotiations for a ‘double contributions convention’ with India and the potential impact of the deal on certain UK sectors.

  • In Focus

    UK flour milling sector

    The flour milling sector produces flour for a variety of foods, including bread, biscuits, cakes and other products. This briefing provides an overview of the contribution of the flour milling sector to the UK economy, including its contribution to employment.

  • Research Briefing

    National Insurance Contributions (Employer Pensions Contributions) Bill: HL Bill 164 of 2024–26

    The National Insurance Contributions (Employer Pensions Contributions) Bill would give effect to the government’s policy, announced at the November 2025 budget, to abolish national insurance contributions (NICs) tax relief on employer salary sacrifice pensions contributions above £2,000 per year per employee. The bill would provide for future regulations to apply employee and employer NICs to salary sacrifice pensions contributions above this new threshold. The change would take effect from April 2029.

  • In Focus

    Hospitality and retail sectors: Impact of government policy

    In recent years, both the hospitality and retail sectors have experienced a number of challenges, particularly in the wake of the Covid-19 pandemic. The government has announced various policies which have affected these sectors, most recently in the 2025 budget. This briefing provides an overview of both the retail and hospitality sectors, recent government policy that has impacted them and industry reaction to the government’s measures.

  • In Focus

    Budget 2025: Summary of key announcements and economic and fiscal forecasts

    The chancellor delivered the government’s second budget on 26 November 2025. Overall, tax policy decisions were forecast to raise £26.6bn by 2030/31, increasing the tax take to 38% of GDP in the same year. The chancellor used this additional revenue to increase fiscal headroom to £21.7bn in 2029/30, up from £9.9bn forecast at the spring statement in March 2025. Spending decisions included removing the two-child limit in universal credit.

  • In Focus

    Private equity: Role in the UK economy

    The role of private equity in the UK economy has grown significantly in recent years. Observers debate whether this has been a positive development or has had a negative impact on businesses and key sectors of the economy. This article provides an overview of private equity and its role in the UK economy.

  • In Focus

    Economic and taxation policy: Impact on growth, jobs and prosperity

    Ahead of the 26 November 2025 autumn budget, there is growing speculation about potential tax increases. This briefing considers the Labour government’s approach to taxation and the economy so far, including its manifesto commitments and tax decisions set out in the 2024 budget. The briefing also includes statistics and commentary relating to UK jobs, growth and prosperity figures. It has been prepared for a House of Lords debate on 13 November 2025.

  • In Focus

    Debate on Steel Industry (Special Measures) Act 2025

    On 12 April 2025, Parliament was recalled to fast-track the passage of the Steel Industry (Special Measures) Act 2025. The government has used the act to direct the operations of British Steel Ltd, which was in danger of collapse. British Steel operates the UK’s remaining blast furnaces at its site in Scunthorpe. This briefing summarises the challenges the UK steel industry has faced in recent years, how the act’s powers have been used in the case of British Steel, and wider government policy on steel.

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