The King’s Speech:
What does it mean for business?

Amid the traditional pomp and circumstance of the State Opening of Parliament, yesterday the King delivered the new Labour Government’s first King’s Speech, setting out the legislation it will take through Parliament in the year ahead.

At the heart of the speech were measures to increase economic growth. From unlocking the building of housing and critical infrastructure, to increasing investment from pension funds, the Government will hope that its plans are enough to spur the economy in a more positive direction.

There are five bills that will be of critical importance to the business community in the year ahead.

• The Planning and Infrastructure Bill will no doubt be a complex, contentious piece of legislation, which aims to unblock the construction of housing and nationally significant infrastructure. With new solar farms already being pushed through, the Government has laid a clear statement of intent to get Britain building; a boon for businesses looking to expand their physical presence.
• The Employment Rights Bill will bring into law Labour’s New Deal for Working People and Plan to Make Work Pay. Described as creating “a new partnership between business, trade unions and working people”, the Bill will strengthen employment law through measures like banning zero-hour contracts, making flexible working the default for all workers from day one, and reforming trade union legislation.
• The Digital Information and Smart Data Bill will support a more digitised government, and help the Government harness the power of data, including through a new Digital Verification Service. The data regulator, the ICO, will also be strengthened. In a data economy, this reform will present opportunities for organisations hoping to help the Government digitise its services.
• The Great British Energy Bill will establish GB Energy. The new company will be at the heart of the Labour Party’s drive to increase the UK’s energy independence, something essential to hitting the country’s net zero targets.
• The Cyber Security and Resilience Bill will strengthen the UK’s cyber defences and ensure that the critical infrastructure and digital services that companies rely on are secure. Surprisingly, the Government has not chosen to introduce a bill specifically tackling the opportunities and challenges around AI, as it was widely expected to do.
• The English Devolution Bill will establish a new framework for English devolution, moving power out of Westminster and giving local leaders the tools they need to drive growth. Devolution sits at the heart of Labour’s programme, and mayors and devolved administration leaders will meet the Prime Minister regularly.

How businesses should respond

There are three things you should do now to make the most of the opportunity that the King’s Speech presents:

1. Hone your messaging to match Labour’s priorities
2. Align your policy recommendations to the legislative programme
3. Consider a regional engagement programme

Matching your messaging to Labour’s priorities

The King’s Speech was built around a central narrative of government ‘building a partnership with businesses and working people’ to deliver economic growth.

It is through this lens that you should re-evaluate your own messaging, tap into this narrative and consider where you can position your engagement as helping Labour deliver against this central principle. This messaging reassessment should also consider Labour’s wider manifesto pledges, the specific legislation that it has brought forward in the King’s Speech, and the five missions that form the central plank of its policy platform.

In the coming months, the Party will need to demonstrate to voters that it is delivering the economic growth it promised today and will therefore be receptive to organisations that can help it achieve that aim.

Aligning your policy recommendations to ‘security, fairness and opportunity’

With the Speech now delivered, we know what legislative priorities that the Government will be focussing on in the year ahead – and those it won’t be. If legislation is on the table which is important to your commercial environment, it is critical that you engage now to influence it.

But how to make your engagement as persuasive as possible?

The King’s Speech promised that the Government’s programme will be based on the principles of ‘security, fairness and opportunity’. It’s vital now to ensure that your policy recommendations to Government align with this central theme of its legislative agenda.

Can you position your recommendation as delivering a fairer outcome to consumers? Or helping protect the security and resilience of supply chains? Or does your recommended policy approach help deliver broader opportunities for an often overlooked region or section of society?

Position them carefully and in terms that resonate with the Government, and your recommendations will land with far more impact.

Consider a regional engagement programme

Devolution is at the heart of the Government’s proposals. A new Council of the Nations and Regions will bring together the PM with leaders of devolved administrations and metro mayors, alongside more sweeping devolution in England powered by a dedicated Bill.

That means that the 12 English metro mayors will be even more important, and we can expect to see their numbers grow in the years ahead. Whether it’s the mayor for your local area, or one in an area you might hope to expand in to – engaging this group will be vital in building a coalition in support of your policy asks.

Engaging the Government

The Government has set itself an ambitious agenda for the year ahead, with more than 35 bills set to make their way through parliament. This presents a golden opportunity for businesses to influence and support the Government in implementing its programme.

We’ve prepared a guide for engaging the new Government, which you can read here. The guide provides background on the new Government’s priorities, as well as a four-step process for any organisation to engage and influence the Government’s approach.

Whatever your priorities, it’s clear the new Government wants to make big changes; it’s important not to be left behind.

For a conversation about how you can influence the new government, get in touch with the team on [email protected].