The King’s Speech 2026

The King’s Speech, delivered on 13^th May 2026, set out 37 bills that the Labour government hope to pass over the course of the parliamentary session. Unless explicitly revived, all bills that were introduced in the previous parliamentary session and did not become law have now been dropped.

Many of the bills set out in the King’s Speech will have some impact on the Suffolk business community if passed into law. This briefing aims to provide some detail of the bills in the King’s Speech which are of particular relevance to  businesses in the county. Full and final details on each of the bill’s proposals remain unrealised, having yet to be introduced into Parliament. Here they will be subject to the scrutiny and revisions of MPs and peers, and influenced by the lobbying of interest groups, such as Suffolk Chamber and the British Chambers of Commerce on behalf of our members’ interests.

Summary

Although many of the bills being proposed will introduce positive changes for businesses in Suffolk, the final list represents a series of missed opportunities. The following statement made on behalf of British Chambers of Commerce, including Suffolk Chamber, accurately reflects these concerns:

“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.” 

Bills of particular interest to Suffolk businesses

It is recommended that Suffolk Chamber of Commerce ensures local voices shape the discussion on each of the following bills as they progress through the House of Commons and the House of Lords:

·         European Partnership Bill (to ensure opportunities are taken to reduce EU-facing trade barriers to local growth)

·         Small Business Protections (Late Payments) Bill (to encourage measures which support SMEs without disproportionately adverse effects)

·         Clean Water Bill (to make sure that water security and water-impacted businesses are supported in proposed changes)

·         Overnight Visitor Levy Bill (to highlight how this may impact upon Suffolk’s local economy if introduced)

·         Education for All Bill (to ensure appropriate measures are introduced to support SEND young people into the local workforce)

·         Railways and Passenger Benefits Bill (to identify the impacts upon rail freight and potential future devolution powers)

·         Energy Independence Bill (to voice the local impacts on Suffolk’s clean energy workforce)

·         Electricity Generator Levy Bill (to ensure any windfall energy profits are used to support businesses adversely affected by energy pressures)

Additionally, the King’s Speech referenced further support for apprenticeships, without setting out an associated bill; further changes in this space should also be monitored to support the needs of Suffolk’s workforce. Further detail, and additional bills of possible interest to Suffolk businesses are detailed below.

European Partnership Bill

This bill aims to strengthen UK ties with the EU, by providing the framework for deals, including for emissions trading, food and drink, and a possible future electricity agreement to reduce prices. Measures include:

·         Introducing an emissions trading agreement linking the UK and EU emission trading schemes and allowing for mutual exemptions from respective Carbon Border Adjustment Mechanisms (CBAM).

·         Aligning standards on food and drink to remove costs, including for Export Health Certificates costing up to £200 for agri-food goods, and inspection fees which can cost hundreds of pounds.

Small Business Protections (Late Payments) Bill

The government plans to tackle late payments from large organisations to protect SMEs in the UK by implementing:

·         Maximum payment terms of 60 days, and enforced mandatory interest for late payments at eight per cent above the Bank of England base rate.

·         A time limit for raising invoice disputes, before payment is due.

·         New and stronger powers for the Small Business Commissioner.

·         A requirement for late-paying large companies to publish commentary on poor payment performance and intended actions to address it.

·         Targeted action on the construction sector to ban the practice of deducting and withholding retention payments under construction contracts.

Clean Water Bill

Building on the New Vision for Water White Paper published in January, the Bill aims to restructure the water sector by introducing:

·         a new Water Ombudsman, and integrating the current water regulators into one new regulator with stronger powers.

·         new frameworks and regulation, to protect the natural environment, create a stronger long-term investment environment and enable new water and wastewater companies to be appointed for new developments.

·         Boost water efficiency and security by accelerating the use of smart metering and driving water reuse infrastructure for businesses.

Competition Reform Bill

Aims to improve the functions of the Competition and Markets Authority (CMA) by:

·         Giving the CMA Board a role in decisions on mergers and market investigations.

·         Making market reviews more than a year quicker. Market reviews can currently take over three years.

·         Providing more clarity and flexibility in merger reviews to provide businesses greater certainty.

·         Giving businesses and the CMA more time at the early stages of an investigation to engage and, where appropriate, agree solutions quickly.

Regulating for Growth Bill

The government wishes to promote growth by trialling allowing laws to be modified or suspended in the face of fast-growing technologies which need to be deployed quickly and scale, including with AI, and for medicine and defence.

Enhancing Financial Services Bill

Among other things, the government intends with this Bill to:

·         reduce the number of regulators firms deal with.

·         reduce the overall burden of the Senior Managers and Certification Regime.

·         support lending and investment for SMEs by updating the framework which requires major banks to separate their UK retail banking services from investment banking activities.

The Highways (Financing) Bill

The Highways (Financing) Bill will introduce a new funding model to unlock greater levels of private capital investment in road infrastructure by:

·         Introducing a licence regime to allow private companies, as licence holders, to deliver key road schemes to improve the road network.

·         Naming an independent regulator to provide oversight.

Overnight Visitor Levy Bill

Following upcoming publication of their overnight visitor levy consultation the government intends to introduce the power for strategic authorities, such as a future Norfolk and Suffolk Combined County Authority and its mayor, to raise revenue and reinvest it back into their local economies.

Education for All Bill

Subject to consultation, a series of reforms for SEND young people will be introduced, covering early years up until the age of 25. There a number of changes applicable to those in post-16 educational settings, including:

·         training all teachers, leaders, and teaching assistants and support staff benefiting in SEND and ensuring that specialist services are available for mainstream settings to support young people with SEND.

·         ensuring that schools and post-16 providers work together and transition planning for SEND learners starts 12 months in advance.

·         Providing targeted support for those identified as being at risk of becoming Not in Education, Employment or Training (NEET).

Railways and Passenger Benefits Bill

Intended to fully establish the result of nationalising and integrating rail companies into Great British Railways (GBR), measures in this bill also include:

·         Ensuring there is only one possible price for each ticket.

·         Ensuring freight is properly considered within GBR’s planning and decision-making, through two new statutory duties.

·         Giving Mayors in Mayoral Strategic Authorities, such as in a potential Norfolk and Suffolk Combined County Authority, a statutory role in partnership with GBR.

Energy Independence Bill

Designed to promote the government’s clean energy mission in pursuit of energy security, some of the measures include:

·         Reforming frameworks to accelerate clean power including offshore wind, hydrogen and smart grid technologies.

·         Speeding up grid infrastructure construction with measures to reduce unnecessary delays, including reforms to land access rules and networks consenting.

·         Introducing powers enabling a more strategic approach to planning and building energy infrastructure and operating the electricity system more efficiently.

·         Placing a new statutory objective on the North Sea Transition Authority to consider workers, communities and supply chains in its decisions.

·         Extending employment rights and protections for offshore workers in renewables, bringing them in line with those working in oil and gas.

Nuclear Regulation Bill

Responding to the Nuclear Regulatory Review 2025, this Bill aims to support the quicker and cheaper delivery of nuclear projects while protecting nature and the environment, and high standards of nuclear safety. Measures include:

·         Ensuring more efficient, proportionate and coordinated regulation across major infrastructure projects, drawing on best practice identified in the nuclear sector.

·         Overhauling existing nuclear regulation, to improve clarity and existing frameworks; embed a proportionate, outcomes-focussed regulatory and legislative framework; ensure effort is focused on managing real risk rather than unnecessary process; maintain safety and environmental standards; and improve the coordination and speed of regulatory decision-making.

Electricity Generator Levy Bill

The Government will extend the Electricity Generator Levy past its scheduled conclusion in 2028 at a later date. In this Bill, it wants to uncouple electricity and gas prices by:

·         Encouraging existing eligible generators to voluntarily accept a fixed price for the electricity they generate (wholesale Contracts for Difference), including by increasing the Electricity Generator Levy rate from 45 per cent to 55 per cent from 1 July 2026 with this Bill.

·         Ensuring a proportion of any exceptional revenue that generators may receive because of the Iran conflict is used to support businesses (and households).

Joseph Clay, Policy Officer

[email protected]