The UK government is looking to introduce new legislation that will strengthen the economy and bring in investment, the King's Speech announced.
It came amid promises to grow the UK’s economy, in King Charles’ first speech setting out the government's priorities over the next year.
A written introduction from the prime minister said new legislation would help with this, adding that this year £18bn of investment has been “brought back” from Japan along with £14bn from the US.
The House of Lords heard: “My ministers will address inflation and the drivers of low growth over demands for greater spending or borrowing.
“My ministers will put the security of communities and the nation ahead of the rights of those who endanger it. By taking these long-term decisions, my government will change this country and build a better future.”
The speech, written by government, also covered the data protection and digital information bill which was was first introduced in the House of Commons in March.
It aims to “maximise post-Brexit freedoms to boost the economy and unleash innovation".
The bill aims to remove "unnecessary barriers" on businesses and boost the economy by £4.7bn over 10 years.
Also announced was a new leaseholders bill which will reform the housing market by making it cheaper and easier for leaseholders to purchase their freehold and fight excessive service charges.
However, the omission of pensions from the speech came as a surprise to some after it was expected to mention the chancellor's Mansion House reforms.
tara.o'connor@ft.com
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