In Focus
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 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.
Research Briefing
The Employment (Allocation of Tips) Bill is a private member’s bill that would mandate that employers must distribute the total amount of tips and service charges to workers without deductions.
Research Briefing
Before an employer can make an employee on maternity, adoption or shared parental leave redundant, redundancy protection regulations require an employer to give that employee first refusal on a suitable alternative vacancy where one exists. The Protection from Redundancy (Pregnancy and Family Leave) Bill would give the secretary of state powers to introduce regulations that would enable redundancy protections to apply from the point an employee told their employer that they were pregnant, and six months after returning from maternity, adoption or shared parental leave.
Research Briefing
On 3 March 2023, the Carer’s Leave Bill is due to receive its second reading in the House of Lords. This private member’s bill would amend the Employment Rights Act 1996 to give the secretary of state the power to create, by regulations, a new entitlement to carer’s leave.
Research Briefing
The Strikes (Minimum Service Levels) Bill is a government bill that would allow ministers to make regulations setting out the minimum service required in certain areas of the public sector during strike action in England, Wales and Scotland.
In Focus
Food prices have risen sharply over the course of 2022 both in the UK and around the world. Although inflation is predicted to decline in 2023, concerns remain that food prices will remain high. This article explores changes to food prices and their impact on the cost of living.
In Focus
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.
Research Briefing
The Economic Crime and Corporate Transparency Bill is a government bill which is intended to help tackle economic crime, better protect national security and enable Companies House to deliver a better service for UK individuals and businesses.
In Focus
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
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.
In Focus
Following successive postponements of full border controls for goods from the EU, the House of Lords European Affairs Committee launched an inquiry into the subject in September 2021. Reporting two months later, the committee drew attention to the uneven trade barriers facing UK and EU exporters. The committee has since sought answers to a variety of questions, including how the government will ensure it adheres to its latest target date to implement full controls.
Research Briefing
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.
Research Briefing
In the absence of functioning devolved institutions the UK government has intervened to set Northern Ireland’s budget. The Northern Ireland Budget Bill provides the relevant authorisations and appropriations for the full 2022/23 financial year and includes provisions to allow public spending to continue into the early months of the 2023/24 financial year. The bill passed has been fast-tracked through the House of Commons and its second reading in the House of Lords is due to take place on 7 February 2022.
Research Briefing
The Online Safety Bill is a government bill that would establish a regulatory framework for certain online service providers. It would also create several new offences relating to online harms including offences of false communications, threatening communications, sending or showing flashing images electronically (‘epilepsy trolling’) and sending photographs or films of genitals (‘cyberflashing’). The government has said it will bring forward several amendments to the bill in the House of Lords including new offences relating to intimate images and promoting self-harm, criminal sanctions for senior managers of non-compliant providers, and promotion of small boat crossings.
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