• Research Briefing

    Non-Domestic Rating Bill: HL Bill 140 of 2022–23

    The Non-Domestic Rating Bill is a government bill that would make changes to business rates. It would reduce the time between property revaluations, impose a duty on businesses to notify the Valuation Office Agency of changes that could affect a property’s rateable value, and introduce rates reliefs for improvements to property and heat networks. It was introduced in the House of Commons on 29 March 2023 and its second reading in the House of Lords is scheduled to take place on 19 June 2023.

  • Research Briefing

    Northern Ireland (Interim Arrangements) Bill: HL Bill 137 of 2022–23

    The Northern Ireland (Interim Arrangements) Bill is a government bill that was introduced in the House of Commons. The bill is being fast-tracked and completed all of its stages in the House of Commons on 10 May 2023 without amendment. It is scheduled to have its second reading on the 18 May 2023 with its remaining stages taking place on 23 May 2023.

  • In Focus

    Supporting the performing arts

    In 2022 music, performance and visual arts contributed an estimated £11.5bn to the UK economy. The government supports the performing arts primarily through Arts Council England (ACE), which received £943mn from the government and National Lottery in 2021/22. To support its levelling up agenda, the government has asked ACE to distribute more of its funding outside London.

  • In Focus

    UK-EU relationship in financial services

    In 2022, the House of Lords European Affairs Committee examined the relationship between the UK and EU in financial services. In its report, the committee said the UK’s financial services sector remained strong and that some challenges presented by Brexit had proven to be less significant than predicted. However, it warned the government against complacency, saying that ministers must ensure their future approach delivered for the sector and the wider UK economy.

  • Research Briefing

    Co-operatives, Mutuals and Friendly Societies Bill: HL Bill 106 of 2022–23

    The Co-operatives, Mutuals and Friendly Societies Bill is a private member’s bill that would allow cooperatives, mutual insurers and friendly societies to choose to adopt legal restrictions on the use of their assets. Community benefit societies, a type of cooperative, already have the option to implement such statutory ‘asset locks’ to ensure a society’s assets cannot later be used for the private benefit of members. The House of Lords is scheduled to debate the bill on 24 March 2023.

  • In Focus

    Spring budget debate: March 2023

    The chancellor of the exchequer, Jeremy Hunt, will deliver a budget on 15 March 2023. This article sets out the economic and fiscal backdrop for the budget, outlining some of the key issues the government is facing.

  • In Focus

    Cryptoassets: What does the future hold? 

    Cryptoassets, such as digital currencies like bitcoin, have become a significant part of the world of finance, with a global value estimated at $0.8tn. Volatility in the markets for these products, along with high-profile business failures, has led to calls for cryptoassets to be regulated. This article discusses what cryptoassets are, as well as recent developments and the government’s policy intentions in this area.

  • In Focus

    The Barnett formula: How it operates and proposals for change

    The Barnett formula calculates the yearly change to the block grant; this is the largest of the grants provided to the devolved administrations by the UK government. The formula aims to give each nation the same pounds-per-person change in funding each year. However, criticisms about equity have been made regarding how the formula is calculated. Calls for reform have mainly focused on proposals to introduce a universal needs-based factor to the formula.

  • In Focus

    The government’s spending efficiency drive

    In November 2022 the government announced a new review of the efficiency of departmental spending. The government has said that savings from the latest review will allow spending to be focused on priority areas, but some parliamentarians have cautioned that the drive for efficiency savings could lead to counterproductive side effects. This article looks at the reaction to the announcement of the latest review.

  • In Focus

    Central bank digital currencies: Lords Economic Affairs Committee report

    The Bank of England is considering whether to introduce a central bank digital currency (CBDC) in the UK. Unlike cryptocurrencies such as Bitcoin, CBDCs are digital forms of money issued and backed by a central bank. The House of Lords is due to debate a 2022 report by the House of Lords Economic Affairs Committee which concluded that it had “yet to hear a convincing case” for why the UK needs a CBDC.

  • Research Briefing

    OFCOM (Duty regarding Prevention of Serious Self-harm and Suicide) Bill [HL]: HL Bill 18 of 2022–23

    The OFCOM (Duty regarding Prevention of Serious Self-harm and Suicide) Bill [HL] is a private member’s bill that has been introduced in the House of Lords by Baroness Finlay of Llandaff (Crossbench). Amongst its provisions, the bill would require Ofcom to establish a unit to advise the government on the extent of content on social media platforms which could be seen to encourage self-harm or suicide.

  • Research Briefing

    Retained EU Law (Revocation and Reform) Bill: HL Bill 89 of 2022–23

    The Retained EU Law (Revocation and Reform) Bill is due to have its second reading in the House of Lords on 6 February 2023. The bill would automatically revoke, or ‘sunset’, most retained EU law at the end of 2023. However it would also give ministers powers to exempt some retained EU law from the sunset and to restate, reproduce, replace or update retained EU law by statutory instrument.

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