• In Focus

    Financial Services Regulation Committee report on the secondary international competitiveness and growth objective

    The House of Lords Financial Services Regulation Committee held an inquiry into the progress made by financial services regulators in strengthening the international competitiveness of the UK economy. The committee’s report, published in June 2025, highlighted cultural and regulatory barriers undermining this objective. The government and regulators stated that the committee’s recommendations align closely with planned and ongoing reforms. On 11 March 2026 the House of Lords is scheduled to debate the Financial Services Regulation Committee report ‘Growing pains: Clarity and culture change required’, published on 13 June 2025.

  • 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

    UK-EU relations: Proposals for customs union and connections with the EU single market

    The government is negotiating an EU ‘reset’ involving an animal and plant health agreement, the UK joining the EU’s electricity market and linking up emissions trading systems. The Liberal Democrats are calling for a bespoke UK-EU customs union, but the Conservatives and Reform UK argue against measures they believe would undermine UK sovereignty. This briefing examines proposals for a customs union and the implications of closer connections with the EU single market.

  • In Focus

    Official development assistance: Humanitarian impacts of reductions in UK overseas aid

    Legislation passed in 2015 created a statutory duty for the UK to spend 0.7% of gross national income (GNI) on official development assistance (ODA), though it also permitted lower spending in certain circumstances. In February 2025 the Labour government announced ODA spend would fall to 0.3% of GNI by 2027. Humanitarian organisations have criticised the decision and called for ODA spend to revert to the 0.7% statutory target.

  • In Focus

    UK-Israel trade: Contribution to the economy

    The UK and Israel engaged in trade worth £6.2bn in the year to the end of Q2 2025, with the UK reporting a total trade surplus of £1bn over that period. Trade relations are governed by a trade agreement that took effect after the UK’s Brexit transition period. The UK and Israel later launched negotiations on a new free trade agreement. However, the UK government suspended negotiations in May 2025.

  • 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

    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

    Economic effects of higher defence spending

    The UK government has committed to raise spending on defence as a share of gross domestic product over the next decade. This briefing looks at the potential economic effects of higher defence spending. Higher defence spending could boost economic activity in the short and long run. However, the size of any gains will depend on several factors, including the broader economic context and how additional defence spending is financed.

  • In Focus

    Proposals for an updated national policy statement for ports

    The government published a draft new national policy statement for ports in June 2025. This seeks to update the planning policy for ports development, which was previously set out in a 2012 national policy statement. The proposed new policy statement has been welcomed by those in the ports sector. As part of its parliamentary scrutiny, it is due to be debated in the House of Lords on 14 October 2025.

  • Research Briefing

    Universal Credit Bill: HL Bill 123 of 2024–25

    The Universal Credit Bill was introduced in the House of Lords on 10 July 2025. It is due to receive its second reading and remaining stages on 22 July 2025. It is a government bill that was originally introduced in the House of Commons with the title Universal Credit and Personal Independence Payment Bill. The speaker of the House of Commons has designated the bill as a money bill. Baroness Bennett of Manor Castle (Green Party) has tabled a non-fatal amendment to regret the motion to give the bill a second reading in the House of Lords.

  • In Focus

    Regulations amending the rules on foreign state investment in UK news sources

    The House of Lords is due to debate whether to approve three statutory instruments on 22 July 2025. These relate to the restrictions on foreign state investment in UK news sources, such as newspapers. One of these instruments would allow foreign states to own holdings of up to 15% in a UK news source owner. The reasoning behind this move has been questioned by a House of Lords committee, and Liberal Democrat peer Lord Fox has tabled a motion calling on the House to reject it.

  • In Focus

    Government’s ‘green book’: Review and reforms

    The Government’s ‘green book’ is guidance on how to appraise public sector policies, programmes and projects. In January 2025, the Chancellor of the Exchequer Rachel Reeves announced a review of the green book. The review’s conclusions were published in June 2025 and are designed to improve the effectiveness of public sector appraisal. The Treasury will release an updated green book in early 2026.

  • In Focus

    AI and creative technology scaleups: Communications and Digital Committee report

    In September 2024 the House of Lords Communications and Digital Committee launched an inquiry into the scaleup challenges facing startup enterprises working with artificial intelligence (AI) and creative technology. In a report published in February 2025, the committee warned the UK risked becoming an incubator economy where UK startups developed innovative products and services before selling out or moving abroad. This briefing summarises the report’s recommendations and the government’s response.

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