LNB news: Queen's Speech 2022: highlights

• a Draft Audit Reform Bill to improve financial reporting and introduce a new statutory regulator, the Audit, Reporting and Governance Authority;

• a Non-Domestic Rating Bill to review the business rates system and to reduce the business rates revaluation cycle from five to three years;

• a Financial Services and Markets Bill to strengthen the financial services industry by cutting red tape, including revoking retained EU law and replacing it with an approach to regulation that is designed for the UK;

• a Social Security (Special Rules for End of Life) Bill aiming to streamline the process for people to have fast-tracked access to disability benefits towards the end of their lives;

• an Electronic Trade Documents Bill to enable businesses to move from paper-based to digital-based transactions when buying and selling internationally

• an Economic Crime and Corporate Transparency Bill to tackle economic crime, including fraud and money-laundering

• a Harbours (Seafarers’ Remuneration) Bill to empower ports to surcharge ferry operators if they do not pay the equivalent of the National Minimum Wage and ultimately to suspend them from access to the port

Source: Queen's Speech 2022: background briefing notes

This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 10 May 2022 and is published with permission. Further information can be found at: https://www.lexisnexis.co.uk/