Reaction to Queens Speech
Business groups have given their reactions to the 2009 Queen's Speech, which included a total of 13 Bills and was the shortest such Speech since 1997.
The Speech included a comments with regards to the Financial Services Bill, which strengthens the powers of the Financial Services Authority to take action over pay, following the recent scandal over bankers' bonuses.
Meanwhile, the Fiscal Responsibility Bill would commit the Government to halving its budget deficit within four years.
Another key Bill of interest to businesses is the Equality Bill, which aims to strengthen and streamline existing equality laws. The Bill includes measures to extend the ban on age discrimination beyond the workplace, to apply to goods, facilities and services, together with new powers to force businesses with more than 250 employees to report on gender pay differences. The power of employment tribunals will also be widened and powers strengthened.
Additional regulations outlined in the Speech also included plans to give agency workers the same rights as directly employed staff, after 12 weeks of employment. The legislation could come into effect by October 2011.
Critics described the Speech as an 'election manifesto' and criticised the absence of any measures to reform MPs' expenses.
The Federation of Small Businesses has called on the Government to follow through with its plans, while the British Chambers of Commerce has stressed the need for a credible plan to cut the UK's financial deficit, reduce borrowing and help businesses to lead the return to growth.