Business at heart of Queen's speech

Top billing in the Queen’s annual speech went to restoring economic stability, with businesses being given a leading role in the recovery.

Burdens on business are set to be reduced by repealing unnecessary legislation, whilst competition laws are being reformed to promote enterprise and fair markets. A Green Investment Bank will also be established to making the UK economy more environmentally friendly.

A new Groceries Code Adjudicator Bill also grabbed headlines for putting pressure on supermarkets to deal more fairly and lawfully with suppliers.

Michael Damms, chief executive of the East Lancashire Chamber of Commerce, said: “It is very symbolic that business was at the head of the Queen’s speech. The clear message to the public is that supporting business is the way to recovery.

“Much of the speech was designed to decrease the amount of legislation affecting businesses, which many of them will appreciate. You only have to look at the uncertainty across the English Channel to realise that this is a time to support business.”

John Cridland, CBI director general, said: “The test for this Queen’s speech is whether it will help businesses to grow. Two Bills stand out for me: energy and regulatory reform. The first should help, but the jury’s out on the second.”

The full text can be seen here.