The key measures in the King’s Speech8 minutes agoPaul SeddonPolitical reporterReutersKing Charles has outlined the government’s law-making plans for the coming year in a speech to the House of Lords.The speech gave an outline of 37 bills minsters want to pass in the next parliamentary session, including eight previously introduced to Parliament.But the event was overshadowed by the continued leadership speculation that continues to surround Sir Keir Starmer.Here is a summary of the main points.Economy and businessThe Steel Industry (Nationalisation) Bill will give ministers new powers to fully nationalise British Steel, subject to a public interest testA European Partnership Bill contains controversial new powers to fast-track legislation to deliver a series of new agreements planned with the EUA Regulating for Growth Bill will allow for pilot schemes to boost innovation in areas like defence technology and AI-controlled shipsA 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 timeStarmer prepares for King’s Speech as he faces leadership crisisWhat is the King’s Speech and what happens during the State Opening of Parliament?HousingPA MediaA Commonhold and Leasehold Reform Bill will ban the use of leasehold for new flats England and Wales, and cap ground rents at PS250 per yearA Social Housing Renewal Bill would exempt newly built social homes in England from Right to Buy for 35 years, and introduce new protections for social tenants who are victims of domestic abuse to stay in their propertyPowers to make construction product manufacturers pay towards removing unsafe building cladding are promised in a new Remediation BillTransportA Railways and Passenger Benefits Bill will create a new watchdog to enforce passenger rights and consolidate the 14 existing operator websitesA draft Taxi and Private Hire Vehicle Bill will introduce a national database of all licensed taxis and hire vehicles, in a bid to improve passenger safetyThe financing model used to fund nuclear projects will be extended to new road projects in England through the Highways (Financing) BillThe Northern Powerhouse Rail Bill, a renamed version of an old HS2 bill, will detail a new proposed rail route from Manchester to Millington, via Manchester AirportA Civil Aviation Bill will create new powers over take-off and landing slots at airports, in a bid to support airport expansionCrime and policingGetty ImagesA wide-ranging Police Reform Bill will deliver plans to create new, larger forces in England and Wales, and create a new national force to investigate the “most serious crime”Controversial plans to scale back the use of jury trials in England and Wales are contained in a Courts Modernisation BillImmigrationThe Immigration and Asylum Bill will make it easier to revoke refugee status and restrict taxpayer support to asylum seekersHealthAn NHS Modernisation Bill will abolish the arm’s length body that runs NHS England, pave the way for patient records to be viewed on the NHS App, and require “mayoral nominees” to sit on local health boardsA draft Conversion Practices Bill, announced in Labour’s first King’s speech, would deliver a promised ban on measures intending to change someone’s sexual orientation or gender identityEnergy and the environmentPA MediaAn Energy Independence Bill will introduce new energy efficiency requirements for rented homes, and give ministers new powers to target energy bill support at “low-income and vulnerable households”The tax charged on the “excess profits” made by electricity generation companies will be increased under a Electricity Generator Levy BillMinisters say the process for approving new nuclear energy projects will be streamlined in a Nuclear Regulation BillThe Clean Water Bill will merge the functions of several existing regulators, including Ofwat, in a bid to end the “fragmented oversight” over the privatised water sectorSecurityA Tackling State Threats Bill contains new powers to ban state-linked groups such as Iran’s Islamic Revolutionary Guards Corps (IRGC)The Armed Forces Bill, introduced earlier this year, contains new powers making it easier to mobilise former armed forces personnel to prepare for warIn the wake of the 2024 Southport attack, a new National Security Bill will criminalise sharing material that “glorifies, trivialises, or normalises” serious violenceThe government’s much-amended Northern Ireland Troubles Bill, to create a new commission to investigate Troubles-related killings, also featuredDigital and technologyPowers to deliver a new voluntary digital ID scheme to access public services are contained in a Digital Access to Services BillA Cyber Security and Resilience Bill will bring data centres into scope of the UK’s cyber security reporting regimeGovernancePlans to restrict foreign political donations and lower the voting age to 16 are contained in a Representation of the People Bill announced earlier this yearThe Public Office (Accountability) Bill, known as the Hillsborough Law, is an existing bill to create a new duty of candour for public officialsNew powers to removing peerages from members of the House of Lords are contained in a new Removal of Peerages BillA Sovereign Grant Bill will enable government funding for the monarch’s official duties to be reduced after a renovation of Buckingham Palace ends next yearOther measuresEPA/ShutterstockPlans to overhaul the provision of special needs provision in England’s schools are contained in a new Education for All BillA draft Ticket Tout Ban Bill will cap service fees charged by resale platforms and make it illegal to resell tickets for live events at more than face valueThe Sporting Events Bill contains a raft of powers to support the delivery of the Euro 2028 men’s football tournamentAn Overnight Visitor Levy Bill will give local mayors in England powers to levy “tourist taxes” on overnight stays, bringing them into line with local leaders in Wales and Scotland What was not in the speech?Legislation to hand over sovereignty of the Chagos Islands to Mauritius has been shelved after opposition from US President Donald TrumpA bill to reform welfare did not feature, although the King said ministers would “respond” to a review of the system led by Social Security Minister Stephen Timms due in the autumnA private member’s bill to legalise assisted dying in England and Wales ran out of time in the previous session amid opposition in the Lords – the government has not given time for a new bill, although supporters may hope to bring one back.Sign up for our Politics Essential newsletter to keep up with the inner workings of Westminster and beyond.Keir StarmerUK ParliamentLabour Party

Chris Mason: Why the King’s speech is being overshadowed by a coffee59 minutes agoChris MasonPolitical EditorIt is amazing that two men having a cup coffee can generate more headlines than the King visiting parliament for the main ceremonial occasion of the parliamentary year. Both of these things are happening today. The King was in Westminster to read out the government’s new laws. This was planned for this week because the government anticipated a rough election result and political turmoil. They got that part right. They hoped it would help Prime Minister to relaunch and reboot his Premiership again. There’s no shortage of plotting.Follow Live: Keir’s Starmer latestStarmer’s King’s Speech preparations as he faces a leadership crisisThe potential challenges to Keir’s StarmerWes streeting: Ambitious Minister at the centre of leadership speculationWhat’s the King’s Speech?And what happens during State Opening of Parliament?” So where are we now? We’re in a bit of a holding position. The authority of the prime minister has been repeatedly slammed, but no one has yet to come forward with 81 MPs required for a challenge to his leadership. And the Mayor of Greater Manchester Andy Burnham still hasn’t found a seat in parliament. “Wes does not have the numbers, and Andy doesn’t have a place, for all the noise,” a supporter of the Prime Minister told me. “Wes has botched it and caused massive damage and instabilities in the process. Some believe that after the State Opening, Wes Streeting may go for it. Some of his supporters certainly hope so, after publicly declaring that the prime minister was finished. Meanwhile, the Trade Union and Labour Party Liaison Organisation has released a statement today saying “it is clear that the prime minister will no longer lead Labour to the next election.” There are also disagreements among unions as to what to do next.

UK borrowing costs rise amid uncertainty about PM’s futureJust NowMichael RaceBusiness reporterGetty ImagesGovernment lending costs rose on Tuesday amid uncertainty surrounding the future of Prime Minster Sir Keir. More than 75 Labour MPs called for Sir Keir’s resignation following poor election results, but the PM told his cabinet to get on with “governing”. The Labour Party has a procedure for challenging a leader, but that process has not been triggered,” said Starmer to his senior colleagues. Some then voiced their support for him to remain in office. Starmer’s allies express support as they leave the cabinet meeting after the PM says he’ll ‘get on governing’. Oil price is predicted to stay above $100 for the rest of the year. Investors will be watching for any signs of fiscal easing, given the fragile fiscal situation in the UK. “The likely replacements of Starmer/Reeves probably would not be as fiscally minded. “They suggested all frontrunners to potentially challenge Sir Keir – Andy Burnham, Angela Rayner and Wes Streeting – would “probably raise public spending”.Governments get most of their income from taxes, but often want to spend more money than taxes raise. The bond yield or interest rate for two, five, ten and thirty-year terms was higher on Tuesday as the future of the prime minister was in danger. The yield on 30-year bond hit 5.80% – the highest since 1998. The 10-year gilt is the standard for government bonds. Two and five-year bonds have an impact on fixed-rate mortgages of the same time period. The rise in oil prices has added inflationary pressure to the bond market, which is already tense due to concerns that a new UK prime minister may have a different view of borrowing, relax fiscal rules, or extend them. Anna Macdonald is investment strategy director at Hargreaves Lansdown. This would mean that investors, 25-30% of whom are overseas buyers of UK Government bonds, would demand a higher premium for risk. The amount of interest paid by the government on its existing public debt is tied to inflation and interest rates. The amount has been increasing in recent years, and now accounts for around PS1 per PS10 that the government spends.Keir StarmerInflationUK Economy

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British Steel set to be nationalised, Starmer saysJust nowMichael RaceBusiness reporterReutersBritish Steel is set to be brought into public ownership, the prime minister has announced.Sir Keir Starmer said legislation would be brought forward this week to give the government powers to take “full ownership of British Steel”, subject to a public interest test.The move comes after the government seized control of British Steel’s Scunthorpe steelworks from its Chinese owners Jingye in April last year in order to halt the potential closure of its blast furnances.Sir Keir said the government had held talks with Jinqye, but that a “commersicial sale has not been possible, and now a public test could be met”.