New laws expected to be in the King's Speech

Key developments are emerging from the global stage. New laws expected to be in the King's Speech26 minutes ago Share Save Add as preferred on GoogleKate MerryBBC News Analysis and ResearchParliamentKing Charles delivers his speech in the House of LordsOn Wednesday, Charles III will deliver the King's Speech, setting out the government's planned new laws for the next Parliamentary session and beyond. The speech will be scrutinised even more intensely than usual as Sir Keir Starmer attempts to relaunch his premiership after a disastrous set of election results for Labour. Here is what we think will be in the speech - and a few things that won't.

Economy and moneyEU alignment - Sir Keir Starmer has made much of his efforts to reset post-Brexit relations and forge closer economic ties with the EU without committing to rejoin the single market or customs union. The prime minister is planning legislation to allow the UK to adopt EU single market rules in certain areas such as food standards. Cost of living: Following criticism from some Labour MPs, the prime minister may introduce some bills which intend to target the cost of living crisis Welfare cuts - The government is expected to make a fresh attempt to reduce the amount spent on welfare, after it was forced by its own MPs to water down a package of cuts.

The Details

This bill would restrict some benefits, including banning under 22s from claiming incapacity benefits. Further changes to disability benefits are due to come later following the conclusion of the Timms Review. National Wealth Fund Bill - In October 2024, Chancellor Rachel Reeves rebranded the previous government's National Infrastructure Bank as the National Wealth Fund, with the aim of stimulating private sector investment in infrastructure projects.

The government will now seek to legally establish the fund in statute, giving it clearer, legally defined powers and purpose. Financial Services Bill - The government is planning a major shake-up of City of London financial regulation. The plans include merging the Payment Systems Regulator into the Financial Conduct Authority and reforming the Financial Ombudsman Service, according to The Financial Times.

Tourist tax - Local Government Secretary Steve Reed launched a consultation in November on allowing English regional mayors to charge tourists a tax for staying overnight in their towns and cities. Public Procurement (British Goods and Services) Bill - This legislation - which was first debated in 2024 - is aimed at forcing public bodies to buy more supplies and services from small and medium sized UK companies. Late payment - 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 who fail to pay money owed to small companies within 60 days.

Asylum and immigrationLegislation is expected on restricting the way article 8 of the European Convention on Human Rights (ECHR), which protects the right to family life, is applied in some asylum cases.

The development has drawn wide international attention, with diplomatic circles watching closely.