Politics

Five things you need to know about the Queen's Speech

The Queen's Speech, the last before next year’s General Election, took place today at Westminster with the usual display of pomp, ceremony and men in tights

June 04, 2014
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©Alastair Grant/PA Wire/Press Association Images




It's still all about the economy

Hearing HM talk about how the government will "deliver on its long-term plan," is somewhat jarring: such management consultant speak does not sit well in the regal larynx. Still, the Office for Budget Responsibility, which monitors the government's spending plans, is getting an upgraded charter. Fuel duty will be frozen, the personal allowance raised, marriage will be recognised in the tax code, a "de-regulation target will be introduced and penalties for employers who don't pay the minimum wage stiffened. These proposals will be bundled up and presented to Parliament as "The Small Business, Enterprise and Employment Bill," a title that gives a sense of the government's economic areas of focus. Message: we are frugal, low tax, pro-marriage, and pro-business, so long as it's a small one.

Dig for Britain!

A new Infrastructure Bill is coming which may have a substantial effect on how Britain looks. Planning laws will be "reformed"—a neutral word, but the assumption is that they will be reformed in such a way as to make planning easier, not harder. Also, and perhaps more significantly for the Conservative party's rural vote, the bill will help alleviate the UK's energy problems by "opening up access to shale and geothermal sites." In other words, expect more fracking. The government will also increase housing supply by making it easier for small firms to build houses, and it will also encourage the development of Garden Cities. Message: goodbye Green Belt.

Help for savers

Not so much of a surprise this one, as the main announcements on pensions and savings came in the Budget. But the one bit of new detail on this concerned the innovation in private pensions. The Government wants to introduce "collective schemes" which they say will allow members of pension schemes to pool their investments, reduce risk and lead to a greater degree of stability for savers. The question is whether this is the Government re-introducing precisely the kind of complexity that at the Budget it claimed to have removed. Message: congratulations—you are now your own Independent Financial Advisor.

A smidge of generosity

"My government," said Her Majesty, "will continue to work to build a fairer society." It will do so by increasing the number of apprenticeship places to 2m by election time. In addition, all children will receive a free school meal and more help will be given to working families to cover childcare costs, The name of the bill containing this last proposal will be the Childcare Payments Bill. The aim of the scheme will be to give support amounting to up to £2,000 per child per year. Message: we will deny and solve the cost of living crisis at the same time.

Binning bad MPs

A contentious one this, certainly here in the Westminster village. But the government is now committed to introducing legislation for the recall of MPs. The aim of the legislation would be to allow constituents unhappy with their MP to trigger a by-election. To do so, a petition must be signed by 10 per cent of all constituents. At present, an MP jailed for more than a year is automatically chucked out of the Commons. Now, if he or she is banged up for any amount of time at all, or if they have displeased the House in some way, then they may find themselves facing a recall petition. Message: we are all in this together. Sort of.