This House of Lords Library Briefing has been published ahead of day 3 of the Lords debate on the Queen’s Speech, covering the following subjects: economic affairs, business, agriculture, environment, energy and transport.
Queen's Speech: Debate in the House of Lords Day 3 (593 KB , PDF)
The briefing identifies key bills that may be announced in the Queen’s Speech. This is based on existing government commitments foreshadowing such legislation and press reports. Additional bills may be announced not covered in this briefing. Details vary but at the time of writing possible government bills include:
Several bills were lost at the close of the previous parliamentary session on 8 October 2019, having not been carried over. These included two bills concerning non-domestic ratings and the Animal Welfare (Sentencing) Bill. The Government has said it remains committed to recognising animal sentience in UK law post-Brexit but has not said whether it intends to pursue this through the Animal Welfare (Sentencing and Recognition of Sentience) Bill, published in draft in December 2017. The High Speed Rail (West Midlands–Crewe) Bill was carried over, but the future of the HS2 project is currently subject to review.
To provide context, the briefing gives a snapshot of current economic performance across several indicators. It also sets out the key announcements made in the spending round in September. In his speech, the Chancellor, Sajid Javid, announced there would be increases in spending across all government departments. Following the announcement, doubt has been expressed by some as to whether the spending round was consistent with existing fiscal rules.
Queen's Speech: Debate in the House of Lords Day 3 (593 KB , PDF)
The collapse of major UK companies such as BHS and Carillion has raised questions about the effectiveness of the country’s auditing practices. The government has committed to reforming the auditing industry. The 2024 King’s Speech included plans to publish a draft bill comprising measures to establish a new audit, reporting and governance regulatory body with enhanced enforcement powers. The draft bill has not yet been published.
This briefing is the fifth of a series on the post-war history of the UK economy. The series proceeds decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This fifth briefing looks at the 1990s. In this decade the UK economy settled into a period of low inflation and steady growth; however, living standards growth was lower and more regionally concentrated than in previous decades.
The Budget Responsibility Bill would require ministers to request an assessment from the Office for Budget Responsibility (OBR) for every major fiscal announcement and give the OBR the power to decide to publish one if the minister failed to request it. This follows the September 2022 ‘mini-budget’. The statement included plans that would have resulted in a projected £45bn reduction in tax income. It did not have an accompanying OBR assessment.
