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King’s Speech: welcome action but gaps remain 

Responding to the King’s Speech, Shevaun Haviland CBE (pictured), Director General of the British Chambers of Commerce, said:  “Today’s King’s Speech had some positives for business with action to tackle late payments, simplify trade with the EU and strengthen apprenticeships.

“These steps can make a real difference to cashflow and confidence on the ground.

“But there are also significant gaps where the Government has not gone far enough. Businesses will be disappointed to see no clear progress on reforming business rates, which remain a major cost burden for firms across the UK. 

“With the Middle East conflict ratcheting up cost pressures, this was a critical opportunity to deliver meaningful change and give companies the certainty they urgently need.

“While measures on simplifying regulation and resilience are encouraging, firms need to see faster progress on grid reform, infrastructure and planning.

“Crucially, although there was a great deal of emphasis on the UK’s economic security there was little detail on strengthening our supply chains. In an increasingly volatile global environment, this must be a priority.

“Increasing the UK’s productivity is also a conundrum the government has yet to fully address, so any further changes to apprenticeships and skills must put employers’ needs at their heart.

“Businesses want to work in partnership with Government to deliver growth. That means meaningful consultation, clear policy direction, and a relentless focus on reducing costs, boosting investment and improving competitiveness. 

“The sooner we see that translated into action, the better the prospects for firms and the wider economy.”

The King’s Speech included:

  • A European Partnership Bill to fast-track legislation to deliver a series of new agreements planned with the EU
  • A Regulating for Growth Bill to allow for pilot schemes to boost innovation in areas like defence technology and AI-controlled ships
  • A Competition Reform Bill will aim to speed up reviews by the competition regulator, and the Enhancing Financial Services Bill will aim to reduce compliance burdens on the financial services sector
  • A Small Business Protections (Late Payments) Bill will increase penalty interest for companies that fail to pay suppliers on time
  • A Civil Aviation Bill will create new powers over take-off and landing slots at airports, in a bid to support airport expansion
  • The financing model used to fund nuclear projects will be extended to new road projects in England through the Highways (Financing) Bill
  • The process for approving new nuclear energy projects will be streamlined in a Nuclear Regulation Bill
  • A commitment to ‘continue to invest in apprenticeships and tackle youth unemployment’

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