14 May 2026
The King’s speech sets out what the Government wants to do next and how it plans to run the country. It is delivered at the State Opening of Parliament and confirms all the bills that the Government plans to introduce in the upcoming Parliamentary session.
With a big focus on economic security and growth, there was a mention of support for British Businesses. There will be an introduction of legislation to tackle late payments suffered by small businesses from larger clients. Research from the Department of Business and Trade and the Small Business Commissioner has shown that late payments cost the UK economy almost £11 billion per year. The issue causes around 38 businesses to close each day with business owners spending an average of 86 hours chasing debt.
The Small Business Protections (Late Payments) Bill will give the Small Business Commissioner the ability to issue penalties to persistent late payers and be able to settle these disputes out of court. The statutory interest rate has been set at 8% for all commercial contracts.
In further support to British Businesses, the King also mentioned the Regulating for Growth Bill. This bill is only at the first reading stage, with the second reading scheduled for 4 July, but it was referred to as ‘the expansion of the reduction of the burden of unnecessary regulation through innovation.’ Apparently around one in five businesses say regulators in the UK support innovation or understand their business well enough to provide tailored advice.
Even though there was no big payroll changes announced, the CIPP will be keeping an eye on the upcoming bills and will keep the profession informed of any updates.
The Government’s full programme can be found below:
Strengthening our economic security
Steel Industry (Nationalisation) Bill
Northern Powerhouse Rail Bill
European Partnership Bill
Small Business Protections (Late Payments) Bill
Clean Water Bill
Competition Reform Bill
Regulating for Growth Bill
Enhancing Financial Services Bill
Highways (Financing) Bill
Overnight Visitor Levy Bill
Ending the opportunity crisis - a Britain built for all
Social Housing Renewal Bill
Commonhold and Leasehold Reform Bill
Education for All Bill
Representation of the People Bill
Remediation Bill
Draft Conversion Practices Bill
Draft Ticket Tout Ban Bill
Sporting Events Bill
Strengthening public services and reforming the state
Police Reform Bill
NHS Modernisation Bill
Railways and Passenger Benefits Bill
Digital Access to Services Bill
Public Office (Accountability) Bill
Removal of Peerages Bill
Courts Modernisation Bill
Northern Ireland Troubles Bill
Draft Taxi and Private Hire Vehicle Bill
Civil Aviation Bill
Sovereign Grant Bill
Strengthening our energy security
Energy Independence Bill
Nuclear Regulation Bill
Electricity Generator Levy Bill
Strengthening our national security
Tackling State Threats Bill
Armed Forces Bill
National Security Bill
Immigration and Asylum Bill
Cyber Security and Resilience Bill
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