A House of Lords committee that considers economic affairs & makes recommendations to Government. Inquiry: The UK's fiscal framework. Header: Adobe Stock
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Our new report concludes that the current fiscal rules can be met without any actual reduction in debt being achieved over the long term. The Government should set out an additional commitment such that in normal times debt in the third year is lower than in the first year.
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When the Government operates with a small fiscal buffer, the potential for non-compliance with the fiscal rules increases, leading in turn to speculation about policy measures to ensure compliance. The Government should commit to operating with substantially…
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… larger buffers that reflect the unavoidable forecast errors in the OBR’s projections. Also, changes to existing fiscal rules should be formulated as part of a concerted, in-depth consultation exercise conducted in a period where there is no formal political campaigning.
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See what our Chair Lord Wood has said about our new report, ‘Fortifying the fiscal framework’. Find out more here:
committees.parliament.uk/com…
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The UK’s fiscal framework is intended to promote sustainable public finances and we’ve just published our new report on it. Read our ‘Fortifying the fiscal framework’ here: committees.parliament.uk/com…
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Last week the committee concluded its inquiry into the UK’s fiscal framework, hearing evidence from James Murray MP, Chief Secretary to the Treasury. Visit LinkedIn to read a short summary of the session: linkedin.com/feed/update/urn…
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The Finance Bill Sub-Committee has published it's report on the Draft Finance Bill 2025-26.
Read our report here : committees.parliament.uk/com…
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Read the short summary we’ve posted on LinkedIn about what former @OBR_UK Chair Richard Hughes told the committee last week. He gave evidence on the UK’s fiscal framework, the role of the OBR, and the circumstances of his recent resignation.
linkedin.com/posts/economic-…
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On 13 January 2026, Richard Hughes, former chair of the Office for Budget Responsibility, gave evidence to our inquiry on the UK's fiscal framework.
A full recording is now available: parliamentlive.tv/event/inde…
Here is the opening statement from the session:
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19 Dec 2025
Listen to our Chair, Lord Wood of Anfield, talking to BBC Radio 4’s Today programme about our new report, ‘Preparing for an ageing society’ (from 1:15:56): bbc.co.uk/sounds/play/m002nl…
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Lords Economic Affairs Committee retweeted
19 Dec 2025
The UK is ’strikingly unprepared’ for the challenges of an aging society according to a cross-party committee in the House of Lords.
Lord Stewart Wood, chair of the Economic Affairs Committee, tells #R4Today why people between 50 and 65 are dropping out of the workforce.
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Lords Economic Affairs Committee retweeted
19 Dec 2025
The UK should prioritise helping people in their 50s and 60s to stay in work to ease pressure on public finances and living standards, a House of Lords committee has said. ft.trib.al/tw4O1DL
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19 Dec 2025
We are pleased to announce the publication of our report 'Preparing for an ageing society.'
Read the full report here: committees.parliament.uk/com…
Here is our Chairman @StewartWood with a summary of the key points:
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8 Dec 2025
Following the Budget, on 8 December the Finance Bill Sub-Committee will hear from the Exchequer Secretary to the Treasury, Dan Tomlinson MP. This will be the sub-committee’s final evidence session of its inquiry into inheritance tax measures in this year’s Finance Bill.
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8 Dec 2025
The session will cover agricultural and business property relief, the inheritance tax treatment on unused pension funds, and the Government’s approach to consultation on tax policy.
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10 Nov 2025
The Finance Bill-Sub Committee is holding its fifth evidence session regarding its current inquiry into the Draft Finance Bill 2025-26.
Watch from 4pm by following the below link:
parliamentlive.tv/Event/Inde…
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7 Nov 2025
Please follow our new LinkedIn page for further updates about the committee and current inquiries: linkedin.com/showcase/econom…
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27 Oct 2025
We've just launched our inquiry into 'The UK's fiscal framework.' We want to hear from as broad a range of people as possible, so if you have a view on any aspect of our inquiry please let us know: committees.parliament.uk/wor…
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27 Oct 2025
The Finance Bill-Sub Committee is holding its third evidence session regarding its current inquiry into the Draft Finance Bill 2025-26.
Watch from 3:30pm by following the below link:
parliamentlive.tv/Event/Inde…
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