The Queens Speech

The Queen’s Speech December 2008

A briefing prepared by Clive Efford MP

The 2008 Queen’s Speech sets out the action the Government is going to take to give everyone real help now to get through this economic downturn fairly. But as we concentrate on bringing Britain through financial difficulties, the Government is also preparing for a future in which Britain emerges stronger and fairer.

One of the most important Bills to be passed in the next Parliamentary session is the Banking Bill. The Bill will strengthen the UK’s framework for financial stability and protection of savers. It is essential part of strategy for dealing with the global credit crunch and putting our financial system on a sounder footing. It will allow the authorities to intervene when a bank gets into severe difficulties.

In the light of recent experience, the Government will introduce amendments in the Lords to deal with two issues:
• Take contingency powers in the Special Resolution Regime to take bank holding companies into temporary public ownership (rather than just the bank itself) where that is necessary to prevent serious risk to financial stability or to public funds.
• Take a power to introduce by secondary legislation a new insolvency procedure for investment firms to ensure that client assets and client money are paid out as soon as possible, without prejudicing other creditors.

Today’s Queen’s Speech included a list of the other legislation the Government will introduce in the next Parliamentary session.

The Child Poverty Bill is amongst the most important as it will enshrine in law our historic commitment to eradicate child poverty in a generation.

The Children, Skills and Learning Bill will reform education, training and apprenticeships for young people and adults, provide new powers to improve standards in schools and increase confidence in qualifications.

The Health Bill will create a duty to take account of the new NHS Constitution, which will set out the core principles of the NHS and the rights and responsibilities of patients and staff. The Bill will also introduce measures to improve the quality of the National Health Service care and public health

The Policing and Crime Bill will increase the effectiveness and public accountability of the police and protect particularly vulnerable members of our society, including women and children It will also aim to reduce crime by improving the recovery of criminal assets and international judicial co-operation whilst enhancing security planning at UK airports.

The Welfare Reform Bill will reform the welfare system for the long term, to provide more help for people to move from benefits into work and to provide greater support, choice and control for disabled people.

For more information on the Queen's Speech including a list of all of the Bills, click here.