The King's Speech set out the Government's legislative agenda for the new parliamentary session. Several of the Bills carry notable implications for businesses operating in the UK.
In this blog, we summarise the key commercial measures and highlight what they may mean for your organisation.
Small Business Protections (Late Payments) Bill
This Bill:
- sets a statutory maximum payment term of 60 days (with some exceptions);
- requires interest on late payments at 8% above the Bank of England base rate;
- puts time limits on raising invoice disputes; and
- gives the Small Business Commissioner new powers to investigate poor payment practices, resolve disputes outside court and fine businesses that persistently pay late or ignore the rules.
The aim is to stop common tactics used to delay payment without good reason.
Draft Ticket Tout Ban Bill
The Government plans to:
- make it illegal to resell event tickets above face value; and
- cap service fees charged on resale platforms.
This builds on reforms the Government had previously signalled on ticketing controls, and it brings real consequences for businesses operating in the secondary ticketing market.
Sporting Events Bill
Sitting alongside the ticketing reforms, this Bill:
- sets up a broader framework for major sporting events; and
- protects commercial rights by introducing a UK-wide ban on unauthorised association with a sporting event, along with restrictions on advertising and trading near event locations.
The measures are intended to protect event organisers and commercial partners from ambush marketing and unauthorised commercial activity.
Cyber Security and Resilience Bill
Carried over from the previous session, this Bill:
- reforms the network and information systems regulatory regime, with a real impact on organisations in energy, transport, financial services, and digital infrastructure;
- widens the regime to cover more entities, including managed IT firms, data centres, and operators that manage electricity flow to smart appliances; and
- boosts regulator powers and requires more incident reporting.
The reforms aim to improve the UK’s cyber resilience and expand oversight of critical digital and infrastructure services.
Regulating for Growth Bill
This Bill:
- requires regulators to focus on growth and innovation alongside their current goals, without undermining their core regulatory functions; and
- brings in sandboxing powers, letting businesses try out new products and tech in real-world settings without facing the full weight of regulation from day one.
This matters most for businesses in fast-moving sectors like AI, fintech, and life sciences, where regulatory uncertainty is often seen as a barrier to innovation and investment in the UK.
European Partnership Bill
This Bill pushes for closer alignment with the EU in certain areas and is designed to support new UK-EU trade deals, with a particular focus on setting up a shared sanitary and phytosanitary (SPS) area.
For businesses in food and farming trade, an SPS deal would cut the red tape and costs that have built up since the end of the Brexit transition period. Businesses with major cross-border trade or supply chains will also feel the effects.
If you have any questions about the topics discussed in this blog, please contact our Commercial Team who would be happy to help.