Charles III to open Parliament with new laws — Kings Speech Parliament
King Charles III will deliver the kings speech parliament on Wednesday in the House of Lords, setting out the government's planned new laws for the next Parliamentary session and beyond. The speech will draw scrutiny because Sir Keir Starmer is trying to relaunch his premiership after Labour's election results.
Starmer's legislative agenda
Starmer is planning legislation to let the UK adopt EU single market rules in some areas, including food standards. The government may also bring forward bills aimed at the cost of living crisis and a fresh effort to reduce welfare spending.
A welfare bill would restrict some benefits, including potentially banning under 22s from claiming incapacity benefits. Further changes to disability benefits are due later, after the Timms Review concludes.
British Steel and the National Wealth Fund
The government will introduce legislation to allow British steel to be nationalised, subject to a public interest test. It seized control of British Steel's Scunthorpe steelworks from Jingye in April last year.
Rachel Reeves rebranded the previous government's National Infrastructure Bank as the National Wealth Fund in October 2024, and the government will now seek to establish the fund in statute. The Financial Services Bill is also planned to merge the Payment Systems Regulator into the Financial Conduct Authority and reform the Financial Ombudsman Service.
Procurement, suppliers and tourism
The Public Procurement (British Goods and Services) Bill, first debated in 2024, is aimed at forcing public bodies to buy more supplies and services from small and medium sized UK companies. In July last year, the government announced plans for a crackdown on large companies that persistently fail to pay their suppliers on time, with fines for those that do not pay money owed to small companies within 60 days.
Steve Reed launched a consultation in November on allowing English regional mayors to charge tourists a tax for overnight stays in their towns and cities. The government also wants to make it easier to install electric vehicle charging points, while legislation is expected on restricting the way article 8 of the European Convention on Human Rights is applied in some asylum cases.
