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Borders of Smoke and Steel: The UK CBAM Consultation Response In a world where borders are often seen as barriers, greenhouse gases remain unconfined, drifting across seas and skies, untethered to nations or geographies. The United Kingdom is now primed to erect a new type of border: motivated not by exclusion, but ... New winds blowing: Bank of England publishes speech on AI and financial stability Last week the Bank of England (the Bank) published a speech delivered by Sarah Breeden, the Bank’s Deputy Governor for Financial Stability, on the impact of artificial intelligence on financial stability. Particularly interesting, from our perspective, we... Following in the UK’s footsteps? Towards a Digital Fairness Act in the EU Earlier this month, the European Commission published its long-awaited report on its Digital Fairness ‘Fitness Check’, where it evaluated three key EU consumer law Directives to establish whether they remain fit for purpose in the digital age.  The Fitnes... Ofcom announces updated timelines for Online Safety Act implementation Ofcom has published an updated timetable outlining its plans for the implementation of the Online Safety Act (‘OSA’), with new duties on online services due to kick in from March 2025.  Who does the OSA apply to? The OSA captures two key categories of ser... Autumn 2024 Budget: Support, prevention and deterrence to close the UK tax gap The Autumn 2024 budget sees the UK’s new Labour government act on a number its pre-election manifesto pledges (discussed here), and intentions stated in its ‘Close the Tax Gap’ document, to decrease the UK’s ‘tax gap’. This is the difference between tax c... The Autumn Budget 2024: Will the Budget deliver growth in UK energy and infrastructure? On 30 October 2024, the Chancellor, Rachel Reeves, delivered the first Budget under a Labour government since 2010, emphasising in her speech that “the only way to drive economic growth is to invest, invest, invest”. Transport, infrastructure, industry, t... The UK in 2024: an autumn Budget to “fix the foundations” The UK’s Autumn 2024 Budget “delivers a large, sustained increase in spending, taxation, and borrowing” according to the Office for Budget Responsibility. In this blog, we will summarise tax announcements that caught our eyes. Overall, it would seem fair ... UK data reform presses ahead: Data (Use and Access) Bill introduced to UK Parliament Last week the Data (Use and Access) Bill (Data Bill) was published, being the most recent bill to be introduced to the UK Parliament to reform data laws - the previous attempt in the form of the Data Protection and Digital Information Bill (DPDI Bill) hav... Ireland introduces a participation exemption for foreign distributions The long-awaited legislation for the introduction of a participation exemption for non-Irish dividends and distributions was included in the Irish Finance Bill 2024. Where the qualifying conditions are met, a company can elect to apply the exemption on di... FCA launches new 'AI Lab' for financial services sector The FCA has launched a new ‘AI Lab’, seeking to support innovators as they develop new AI solutions while deepening its own understanding of the risks and opportunities AI presents to the financial services sector. The AI Lab has four components: AI Spotl...