What Does The King's Speech Mean for our industry?

The King’s Speech is the annual opportunity for the Government to set out its legislative agenda for the coming year.

While this year’s was overshadowed by rumours of Cabinet resignations and challenges to the Labour leadership, there were still 31 new bills announced.

Here are the ones which may affect our industry:

A Small Business Protections (Late Payments) Bill – will introduce maximum payment terms of 60 days, a deadline for invoice disputes and mandatory interest to be added for late payments.
European Union (European Partnership) Bill – this Bill is intended to ‘strengthen ties with the European Union’, aligning certain parts of the UK law with the EU. This could include sectors such as food standards, carbon emissions trading and electricity trading.
Cyber Security and Resilience Bill – will aim to bolster online protections for businesses and services across the country, to make sure they are protected from cyber attacks.
Regulating for Growth Bill – mostly about how the main regulatory bodies work and ensuring innovation is not stifled.
Energy Independence Bill – reforms to upgrade homes, speed up the construction of infrastructure and the deployment of renewable power.

The full King’s Speech document can be read here on the UK Government website.

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