• Research Briefing

    Public Authorities (Fraud, Error and Recovery) Bill: HL Bill 96 of 2024–25

    The government has committed to reducing and reclaiming public money lost to fraud and error. The Public Authorities (Fraud, Error and Recovery) Bill contains provisions to extend Cabinet Office and Public Sector Fraud Authority powers to tackle fraud and error outside the tax and benefits system, and also expands powers to tackle fraud within the benefits system. The bill is due to have its second reading in the House of Lords on 15 May 2025.

  • In Focus

    US tariffs: Background, perspectives and impact on the UK

    The US has announced significant increases in tariffs on imports, although has delayed full implementation. Many economists view tariffs unfavourably, arguing that they raise prices, reduce competition and risk retaliation. But others suggest that tariffs may benefit the country that applies them. UK exports to the US face an additional 10% tariff. This could be negative for UK exports and the economy. But there could be some upsides for the UK if the US goes ahead with higher “reciprocal” tariffs on many of the UK’s competitors.

  • Research Briefing

    Tobacco and Vapes Bill: HL Bill 89 of 2024–25

    The bill aims to create a 'smoke-free generation' by banning tobacco sales to anyone born on or after 1 January 2009, alongside other measures to tackle smoking and tobacco harms. It would also further regulate vaping, curbing its appeal to children, while enabling adult smokers to use vapes as a quitting tool. The bill is similar to the Tobacco and Vapes Bill which fell at dissolution 2024.

  • In Focus

    ‘National debt: It’s time for tough decisions’: House of Lords Economic Affairs Committee report

    In 2024 the House of Lords Economic Affairs Committee conducted an inquiry into the sustainability of the UK’s national debt, following a sharp rise in public sector indebtedness in recent years. This briefing provides a summary of the committee’s findings and the government’s response, ahead of a debate in the House of Lords on 25 April 2025.

  • In Focus

    Costs of net zero by 2050

    The UK’s target of achieving net zero by 2050 was set under then prime minister Theresa May in 2019. To date, there has been political consensus on the target between Conservative and Labour governments. In March 2025, the Leader of the Conservative Party Kemi Badenoch announced that her party no longer supported the target, in part because she did not believe it was affordable. This briefing examines the costs associated with achieving net zero by 2050 and how progress to the target has been legislated for under the Climate Change Act 2008.

  • Research Briefing

    Finance Bill: Bill 77 of 2024-25

    The government introduced the Finance Bill in the House of Lords on 4 March 2025. The House is scheduled to debate the bill at second reading and all remaining stages on 19 March 2025.

  • In Focus

    Closure of bank branches: Impact on rural communities

    Over the last three decades, the number of bank branches in the UK has declined due to advances in technology and changing customer habits. Stakeholders have argued that these closures have negatively affected rural communities. In recent years, successive governments and the Financial Conduct Authority have taken action aimed at ensuring sufficient access to banking services, including for rural communities. This briefing provides an overview of these measures, as well as information on the number of bank closures and their impact on rural communities.

  • In Focus

    Creative industries: Growth, jobs and productivity

    The government has identified the creative industries as one of eight “growth driving” sectors it will prioritise in its industrial strategy. The strategy is due to be published later this year, along with a creative industries sector plan. The creative industries have called on barriers to growth, such as skills gaps and access to funding, to be addressed in the sector plan.

  • In Focus

    Encouraging retail investment in the stock market

    Individual consumers investing in the stock market, known as ‘retail’ investment, can have benefits for individuals and the economy, though it also brings risks. The Financial Conduct Authority estimates that a significant number of people in the UK have cash savings that are depreciating in value and would produce higher returns if invested. Some commentators and thinktanks have argued the government should pursue policies to encourage greater retail investment in the stock market.

  • In Focus

    Tax implications of corporate profit shifting

    Multinational corporations may use artificial intragroup transfers and other strategies to lower their exposure to corporation tax. Following high profile examples of aggressive tax avoidance, OECD countries including the UK agreed a number of measures to reduce so-called ‘profit shifting’ and increase tax revenues globally. This included a global minimum tax for large corporations. US President Donald Trump has since signalled the US no longer agrees with the latest OECD tax agreement.

  • Research Briefing

    Non-Domestic Rating (Multipliers and Private Schools) Bill: HL Bill 61 of 2024–25

    This government bill would enable changes to the business rates regime. It would allow the introduction of additional business rate multipliers to increase business rates for larger properties and reduce business rates for retail, hospitality and leisure properties, and the removal of charitable rate relief from some private schools that are charities.

  • In Focus

    Economic growth conditions: Discussion and debate

    Economic growth is a consequence of increases in the stocks of labour and capital and the efficiency with which factors of production are used. Economists disagree on the potential to improve conditions for growth. Optimists point to the scope for policy changes in areas such as housing and energy to lift economic growth. Pessimists argue that structural headwinds mean the economy’s weak performance of the last decade-and-a-half will persist. Beyond policy, cultural factors may also play an important role in determining the economy’s growth prospects.

  • In Focus

    Budget tax measures: Context for the UK’s nations and regions

    Tax measures announced in the autumn 2024 budget included reforms to agricultural property relief for inheritance tax, changes to employer national insurance contributions and the extension of VAT to private school fees. This briefing provides some context to assess the potential economic impact of these measures on the nations and regions of the UK.

  • Research Briefing

    Consumer Products (Control of Biocides) Bill [HL]: HL Bill 32 of 2024–25

    The Consumer Products (Control of Biocides) Bill [HL] is a private member’s bill sponsored by Baroness Bennett of Manor Castle (Green Party). It would restrict the use of substances with antimicrobial properties, known as biocides, in cosmetic, personal care and other treated products, for example clothing and period products, subject to certain exemptions. The House of Lords is scheduled to debate the bill at second reading on 17 January 2025.

  • Research Briefing

    Financial Assistance to Ukraine Bill: HL Bill 58 of 2024–25

    The Financial Assistance to Ukraine Bill is a two-clause government bill that would authorise the government to provide loans and other financial assistance to Ukraine resulting from the extraordinary revenue acceleration (ERA) loans agreement made at the meeting of the G7 and the EU in June 2024. It has been designated as a money bill and it completed its House of Commons stages on 18 December 2024 with broad cross-party support.

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