In Focus
The Finance Bill is a government bill intended to give lasting statutory effect to the tax measures announced in the March 2021 budget. The bill underwent a series of changes in its passage through the House of Commons. The House of Lords Economic Affairs Finance Bill Sub-Committee criticised a draft of the bill in some specific areas. The Government accepted some of the committee’s recommendations but rejected others.
In Focus
The Government has proposed new powers for Her Majesty’s Revenue and Customs (HMRC) to address tax avoidance, enhance information gathering, and improve tax compliance. These measures were the subject of a report from the House of Lords Economic Affairs Finance Bill subcommittee, which found that some of these powers were both disproportionate and poorly targeted.
Research Briefing
The Professional Qualifications Bill [HL] would make provisions relating to professional qualifications and their recognition in the UK. It is scheduled to have its second reading in the House of Lords on 25 May 2021.
Research Briefing
This proposed law seeks to bring more financial assets into the dormant assets scheme, allowing them to be distributed to good causes. A dormant asset is a financial product that has not been used for many years and which the provider has not been able to reunite with its owner.
In Focus
The UK has significant unmet demand for nurses. This country has a history of recruiting nurses from overseas, and the Government aims to encourage more nurses trained abroad to come to work in the UK. However, the Government also takes into account ethical considerations relating to the recruitment of nurses from countries which themselves have a shortage of healthcare staff.
Current Affairs Digest
Catch up on economics articles you may have missed. This month we take an in-depth look at the funding of devolved governments.
In Focus
Ahead of the Queen’s Speech on 11 May 2021, this In Focus sets out some of the Government’s current trade priorities and summarises policy issues that may be expected to develop over the next parliamentary session. This includes current trade negotiations, parliamentary scrutiny of agreements and the potential need for implementing legislation.
In Focus
This In Focus has been prepared in advance of the Queen’s Speech, taking place on 11 May 2021. It discusses previous government policy commitments on railways and airlines, in addition to other possible measures that may be introduced in the forthcoming parliamentary session.
In Focus
Coronavirus vaccine programmes are improving the economic outlook, but rising cases in some countries are affecting global activity. This article discusses the outlook for key economic variables. It then summarises the Government’s policies for the economy as it recovers from the pandemic. Finally, it lists a number of possible bills or areas for legislation, related to the economy and business, which might feature in the Queen’s speech.
In Focus
The UK-EU Trade and Cooperation Agreement formally entered into force on 1 May 2021, having applied provisionally since the start of the year. However, there are still aspects of the post-Brexit relationship between the UK and the EU that remain to be settled or fully implemented. This article looks at some key dates and deadlines likely to come up in the new parliamentary session.
In Focus
On 27 April 2021, the House of Lords is due to take note of the UK-Turkey free trade agreement. The agreement sets out the future trading relationship between the UK and Turkey. This article considers the details of the agreement, as well as scrutiny it has received from the House of Lords International Agreements Committee.
In Focus
On 26 April 2021, the House of Lords is due to debate a regret motion by Lord Hunt of Kings Heath on the National Health Service (Charges and Pharmaceutical and Local Pharmaceutical Services) (Coronavirus) (Amendment) Regulations 2021. The purpose of the regulations is to make it easier for pharmacies to distribute specific medicines during a pandemic. However, there are concerns about the financial pressures on pharmacies in England.
In Focus
In the 2020 spending review, the Government cut aid spending from a target of 0.7% of GNI to 0.5%. The Government said in its recent integrated review of security, defence, development and foreign policy it would use aid spending “more strategically” to increase the UK’s impact as a force for good. On 28 April 2021, the House of Lords is due to debate the reduction in aid spending and its impact on achieving the integrated review’s objectives.
In Focus
Declines in biodiversity could lead to economic and political instability and potentially threaten the survival of life on earth. The Government has taken a range of steps to counter biodiversity loss, although measures of success are mixed. The independent Dasgupta review has recommended placing monetary values on natural capital. Two forthcoming international conferences provide opportunities for further global initiatives on biodiversity.
In Focus
The coronavirus pandemic and the restrictions introduced to manage it has had a large impact on the UK economy, jobs and businesses. On 20 April 2021, the House of Lords will debate the steps being taken to protect jobs and livelihoods as the economy recovers. This article provides links to related reading material.
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