Devolution & economic growth
“The three E’s of devolving empowerment, education and economic growth are at the heart of the legislative agenda to kickstart delivery of the new Government’s missions. For too long it has been a one-way street with calls for further devolution from the UK’s regions and cities, but this signals the rebalance of control required to deliver on skills, planning and infrastructure, and transport.” - Rachel Taylor, Government and Health Industries Leader
“Given the Government's focus on driving economic growth, better and more integrated transport is vital to delivering its mission. The combination of moves by creating Great British Railways, accelerating devolution of transport in Combined Authority areas, and extending bus franchising to all local leaders all give the green light to greater levels of connectivity to help grow the economy.” - Grant Klein, Transport Leader
“The policy direction suggests we are likely to see a growing involvement of the public sector to help drive progress in energy. The announcement of Great British Energy (GBE) and a focus on creating a clean energy superpower, being a welcome example of that, to accelerate progress to zero carbon by 2030. The success of these institutions is likely to be measured against the amount of private capital they mobilise, how GBE becomes an active participant in the sector, the introduction of electricity market reforms and their ability to really deliver new infrastructure in the UK.” - Vicky Parker, Head of Power & Utilities
House building and planning
“The new Government is right to place a key focus on addressing housing supply, and streamlining planning is an important part of solving the challenge. The return of housing targets will hold reforms to account and evaluate their success in boosting growth. While focus on new supply will receive the headlines, it's also encouraging that the Government is seeking to bring forward the Renters Reform Bill at pace.” - James Bailey, Housing Leader
“Firms are increasingly looking to leverage the potential of AI, so it is unsurprising to see a reference to the importance of the technology in the King’s Speech. This reflects the ongoing regulatory focus on ensuring AI is deployed in a safe and sustainable way. The Government will aim to establish new, legally binding rules for providers of the most powerful AI models." - Leigh Bates, Technology, Data and AI Partner
“As widely expected, under its "New Deal for Working People'' the Government has announced its intention to improve employment rights and wage standards. The implementation changes, including banning zero-hours and giving workers immediate access to rights such as protection against unfair dismissal, will need to be managed carefully and it will be important that the Government consults with business to avoid potential unintended consequences." - John Harding, Head of Employment Tax
Head of Growth and Digital, PwC UK
5moThe sense of purpose with which the government is tackling the issues it faces, is hugely refreshing to see.