In Focus
The UK and Israel engaged in trade worth £6.2bn in the year to the end of Q2 2025, with the UK reporting a total trade surplus of £1bn over that period. Trade relations are governed by a trade agreement that took effect after the UK’s Brexit transition period. The UK and Israel later launched negotiations on a new free trade agreement. However, the UK government suspended negotiations in May 2025.
In Focus
The chancellor delivered the government’s second budget on 26 November 2025. Overall, tax policy decisions were forecast to raise £26.6bn by 2030/31, increasing the tax take to 38% of GDP in the same year. The chancellor used this additional revenue to increase fiscal headroom to £21.7bn in 2029/30, up from £9.9bn forecast at the spring statement in March 2025. Spending decisions included removing the two-child limit in universal credit.
In Focus
The role of private equity in the UK economy has grown significantly in recent years. Observers debate whether this has been a positive development or has had a negative impact on businesses and key sectors of the economy. This article provides an overview of private equity and its role in the UK economy.
In Focus
Ahead of the 26 November 2025 autumn budget, there is growing speculation about potential tax increases. This briefing considers the Labour government’s approach to taxation and the economy so far, including its manifesto commitments and tax decisions set out in the 2024 budget. The briefing also includes statistics and commentary relating to UK jobs, growth and prosperity figures. It has been prepared for a House of Lords debate on 13 November 2025.
Research Briefing
The Sustainable Aviation Fuel Bill is a government bill. It was introduced in the House of Lords on 20 October 2025 and is due to receive its second reading on 20 November 2025. The bill would introduce a revenue certainty mechanism to support the production of sustainable aviation fuel (SAF) in the UK. It would do this by designating a counterparty (a company wholly owned by the government) to engage in contracts with SAF producers to guarantee the price of the sale of eligible SAF. The government has said that SAF is one of the most effective ways to reduce greenhouse gas emissions from aviation, as SAF is a ‘drop-in fuel’ that does not require modifications to existing aircraft. Current supply of SAF is limited. The government has claimed the bill would support SAF production in the UK by providing revenue certainty and thereby reducing risk to investors in SAF production facilities. There was broad cross-party support for the bill during its House of Commons stages.
In Focus
The House of Lords Public Services Committee has explored the challenges faced by young disabled people as they move from the education system into work. The committee found that there were significant challenges for young disabled people in securing long-term employment. It called for the government to focus on early intervention and to provide employers with the right support and tools to create an inclusive workplace.
In Focus
The UK government has committed to raise spending on defence as a share of gross domestic product over the next decade. This briefing looks at the potential economic effects of higher defence spending. Higher defence spending could boost economic activity in the short and long run. However, the size of any gains will depend on several factors, including the broader economic context and how additional defence spending is financed.
In Focus
Reform of the railways is a key government policy; it was part of the Labour Party’s 2024 election manifesto and was set out in further detail in ‘Getting Britain moving: Labour’s plan to fix Britain’s railways’, published in April 2024. This briefing looks at the government’s plans for changes to the ownership and organisation of the railways.
In Focus
At the turn of the twentieth century, debate about the UK’s fiscal policy centred on the issue of tariffs. In July 1904, the House of Lords debated the government’s fiscal policy, and whether the then Conservative government supported the introduction of tariffs as some leading political proponents thought. Moving away from ‘free’ trade to what some considered ‘fair’ trade proved to be both a controversial and divisive policy idea. This briefing looks back to the Lords debate and identifies the key contributions made.
In Focus
On 12 April 2025, Parliament was recalled to fast-track the passage of the Steel Industry (Special Measures) Act 2025. The government has used the act to direct the operations of British Steel Ltd, which was in danger of collapse. British Steel operates the UK’s remaining blast furnaces at its site in Scunthorpe. This briefing summarises the challenges the UK steel industry has faced in recent years, how the act’s powers have been used in the case of British Steel, and wider government policy on steel.
In Focus
The government published a draft new national policy statement for ports in June 2025. This seeks to update the planning policy for ports development, which was previously set out in a 2012 national policy statement. The proposed new policy statement has been welcomed by those in the ports sector. As part of its parliamentary scrutiny, it is due to be debated in the House of Lords on 14 October 2025.
Research Briefing
The Space Industry (Indemnities) Bill is a private member’s bill, supported by the government, that would amend the Space Industry Act 2018 to require all spaceflight operator licences to specify a limit on a licence holder's liability for damage or loss. This is intended to encourage investment in the UK space industry by ensuring that operators are not subject to unlimited liability.
Research Briefing
The Universal Credit Bill was introduced in the House of Lords on 10 July 2025. It is due to receive its second reading and remaining stages on 22 July 2025. It is a government bill that was originally introduced in the House of Commons with the title Universal Credit and Personal Independence Payment Bill. The speaker of the House of Commons has designated the bill as a money bill. Baroness Bennett of Manor Castle (Green Party) has tabled a non-fatal amendment to regret the motion to give the bill a second reading in the House of Lords.
In Focus
The House of Lords is due to debate whether to approve three statutory instruments on 22 July 2025. These relate to the restrictions on foreign state investment in UK news sources, such as newspapers. One of these instruments would allow foreign states to own holdings of up to 15% in a UK news source owner. The reasoning behind this move has been questioned by a House of Lords committee, and Liberal Democrat peer Lord Fox has tabled a motion calling on the House to reject it.
In Focus
Highlighting the human and economic costs of accidents, and rising rates of accidental deaths in the UK, the Royal Society for the Prevention of Accidents (RoSPA) has called for the government to create a national accident prevention strategy. RoSPA argues that currently, responsibility for accident prevention is too fragmented. The government has not yet commented on this proposal.
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