Knowledge Notes

UK Knowledge Collection | Spring Budget, regulating AI, and ESG

Published on 23rd Feb 2024

Welcome to this week's Knowledge Collection

People in a meeting, hands holding pens and going over a graph on a screen

The Spring Budget, due on 6 March, may be the last fiscal statement by the chancellor before the UK general election. Our tax experts consider the possible changes businesses can expect: while tax cuts are anticipated, they may be limited.

The government has now published its response to the consultation on its white paper on the regulation of AI. The UK's light-touch approach is very different to that of the EU, with its cross-sector AI Act. Our Insight looks at the next steps in the UK's strategy, and how businesses may have further opportunities to feed into it.

We further consider the use of AI, in the context of ad campaigns, in our forthcoming in-person event on IP considerations in advertising. High-risk activities will also be discussed, including greenwashing, and we look further at the making of sustainability claims and other ESG-related risks in our Disputes Week series, which returns next month.

The "G" of ESG is the subject of our Insight on changes to two corporate governance codes. The Quoted Companies Alliance and Financial Reporting Council have both recently (and independently) published new editions of their codes. We explore the nature and significance of the changes for affected companies.

Finally, there is a big change coming on 6 April for pensions, with the removal of the lifetime allowance. Our Insight covers what trustees and employers should do to prepare, and our webinar next month will look at this and other recent developments.

Recent Insights

Spring Budget 2024: what business tax measures can the UK expect?

The UK chancellor will present his budget accompanied by an economic and fiscal forecast by the Office of Budget Responsibility.
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What is the latest on the UK government's approach to regulating AI?

The government's much-anticipated consultation response to its pro-innovation approach to artificial intelligence regulation white paper reasserts that there will be no new AI legislation for the UK.
Read more >

New corporate governance codes usher in change for AIM and UK-listed companies

There are some significant new inclusions to the QCA's code, such as on ESG and remuneration. The Corporate Governance Code is not markedly different from the 2018 edition, with the most substantive change being a strengthening of the requirements about the monitoring and review of the company's risk management and internal control framework.

The UK lifetime allowance is going on 6 April: are you ready?

The removal of the lifetime allowance is a significant change. What should pension scheme trustees and employers do to prepare?
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UK Court of Appeal rules in favour of developer on interpretation of restrictive covenant

A recent case on restrictive covenants highlights the importance of careful consideration of their wording and offers an insight into the approach courts will take in contractual interpretation.
Read more >

Upcoming Events

Leap forward: emerging trends in product regulation
29 February | 09:30-12:30 | One London Wall

A morning of debate and analysis to discuss the many forthcoming changes to the product safety and compliance regime in the UK and EU, followed by a networking lunch at our London Wall office.
Find out more >

Navigating the intellectual property landscape in advertising
5 March | 15:00-17:30 | One London Wall

A discussion of the key IP considerations for advertising campaigns, including brand clearance issues, high-risk activities, AI in advertising, and what happens when a campaign goes wrong.
Find out more >

Pensions Coffee Break
13 March | 11:00-11:30

In this webinar, our experts will look at a number of recent developments and set out the actions they suggest trustees take now.
Find out more >

Dipping into Data | The HR Edition 2.0
14 March | 16:00-16:30

Our webinar series returns to look at key recent developments in the HR data world: the latest ICO guidance on employee monitoring, the draft guidance on employment record keeping and recruitment and selection, and what it means for employers in practice.
Find out more > 

Disputes Week
18-22 March | Webinars and in-person events

Activism in the current climate: should directors and their advisors worry about ESG?

18 March | Webinar | 09:00-09:30

Recent civil procedure developments for in-house lawyers

19 March | Webinar | 09:00-09:30

The rise of competition litigation and collective actions

19 March | Webinar | 15:00-15:30

What next for building safety disputes?

20 March | Webinar | 09:00-09:30

Arbitration to manage risks in supply chains: why and how?

20 March | Webinar | 15:00-15:30

Cyber security: effective incident response

21 March | In-person workshop | 08:30-11:00

Investigations: challenges for in-house legal

21 March | In-person roundtable | 12:00-14:00

Find me the money: international enforcement tips and tricks

22 March | Webinar | 09:00-09:30

Find out more >


* This article is current as of the date of its publication and does not necessarily reflect the present state of the law or relevant regulation.

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