• Research Briefing

    Budget Responsibility Bill: HL Bill 24 of 2024–25

    The Budget Responsibility Bill would require ministers to request an assessment from the Office for Budget Responsibility (OBR) for every major fiscal announcement and give the OBR the power to decide to publish one if the minister failed to request it. This follows the September 2022 ‘mini-budget’. The statement included plans that would have resulted in a projected £45bn reduction in tax income. It did not have an accompanying OBR assessment.

  • Research Briefing

    Lithium-ion Battery Safety Bill [HL]: HL Bill 8 of 2024–25

    Lithium-ion batteries are the most popular type of rechargeable battery and are used in a wide range of electrical devices worldwide. The Lithium-ion Battery Safety Bill [HL] would provide for regulations concerning the safe storage, use and disposal of such batteries in the UK. The bill is a private member’s bill sponsored by Lord Redesdale (Liberal Democrat). The House of Lords is scheduled to debate the bill at second reading on 6 September 2024.

  • In Focus

    Accountability, independence and performance of UK regulators: House of Lords committee report

    The House of Lords Industry and Regulators Committee published a report in February 2024 examining the accountability, independence and performance of UK regulators. The committee highlighted several issues, including the perceived influence of political factors in the appointment and reappointment of regulatory leaders, rather than suitability for the role. The House of Lords is due to debate the report on 9 September 2024.

  • In Focus

    Trade and commercial opportunities with Africa

    This briefing provides an overview of recent government policy on increasing trade and business opportunities with the African continent. It has been prepared ahead of Lord Popat’s (Conservative) debate scheduled on 12 September 2024 on what steps the government is taking to raise awareness among United Kingdom businesses of commercial opportunities in African markets, and support United Kingdom exports to Africa.

  • Research Briefing

    Bank Resolution (Recapitalisation) Bill [HL]: HL Bill 2 of 2024–25

    The Bank Resolution (Recapitalisation) Bill [HL] was announced as part of the King’s Speech on 17 July 2024. The bill seeks to enhance the UK’s regime for managing bank failures, by allowing the Bank of England to recover the costs associated with recapitalising failing small banks through a levy on the banking sector.

  • In Focus

    The UK economy in the 1980s

    This briefing is the fourth of a series on the post-war history of the UK economy. The series proceeds decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This briefing looks at the 1980s. The decline in the profitability of industry, which began in the 1960s, was reversed in this decade; however, the share of national income received by workers fell to a post-war low.

  • In Focus

    Contribution of sport to society and the economy

    This briefing considers the benefits of sport and physical activity ahead of a House of Lords debate on the subject on 16 May 2024. The government and sports sector stakeholders agree that sport has many benefits for individuals and communities, as well as for the economy more broadly. The government published a new strategy for the sports sector in August 2023. The ambition of the strategy was commended; however, sports charities and the opposition suggested that more was required from the government to deliver on it.

  • In Focus

    Child poverty: Statistics, causes and the UK’s policy response

    The government has estimated that 4.3 million children, or 30% of all children in the UK, were living in relative low-income households after housing costs in 2022/23. This represents an increase on the previous year. The government has said unexpectedly high inflation, driven by the war in Ukraine and supply chain challenges, contributed to the rise. It argues that falling inflation, rising real wages and uprated benefits will help low-income households in the year ahead.

  • In Focus

    Economic Affairs Committee report: ‘Making an independent Bank of England work better’

    In 2023 the House of Lords Economic Affairs Committee conducted an inquiry into the Bank of England’s operational independence, 25 years after independence was formalised with the passage of the Bank of England Act 1998. 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 2 May 2024.

  • In Focus

    The UK economy in the 1970s

    This briefing is the third of a series on the post-war history of the UK economy, focusing on the 1970s. Following a brief economic boom, inflation and unemployment reached post-war highs and the economy entered a prolonged recession, before slowly recovering towards the end of the decade. Despite this volatility, real household incomes grew significantly over the course of the decade.

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