Wednesday, 08 May 2013 12:39
Queen's Speech outlines help for pensions and businesses
The Queen has set out the Government's plans for the next year with focus on pensions, small businesses and social care.
In the annual Queen's Speech to officially open Parliament today, she said the Government's focus would be a building a stronger economy.
She said: "My government's legislative programme will continue to focus on building a stronger economy so that the United Kingdom can compete and succeed in the world.
"My government's first priority is to strengthen Britain's economic competitiveness. To this end, it will support the growth of the private sector and the creation of more jobs and opportunities."
In line with this, she outlined three key bills for businesses and workers. These were the Pensions Bill, National Insurance Contributions Bill and Deregulation Bill.
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The pensions bill will look at implementing the new single-tier pension proposed by Pensions Ministers Steve Webb MP. This will ensure a £144pw pension for all retirees who have worked for 35 years from 2016.
The Queen said: "My government will bring forward legislation to create a simpler state pension system that encourages saving and provides more help for those who have spent years caring for children."
The deregulation bill aims to reduce excessive amounts of regulation for businesses while the national insurance bill is an employment allowance for companies which will reduce their NI contributions. Announced in the Budget in March, it will mean around 450,000 small companies will be removed from the employers NI net.
The Queen also announced a Care Bill following on from proposals by the Dilnot Commission about reducing the costs for care fees. It has been proposed to create a long-term care cap of £75,000 from April 2017.
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In the annual Queen's Speech to officially open Parliament today, she said the Government's focus would be a building a stronger economy.
She said: "My government's legislative programme will continue to focus on building a stronger economy so that the United Kingdom can compete and succeed in the world.
"My government's first priority is to strengthen Britain's economic competitiveness. To this end, it will support the growth of the private sector and the creation of more jobs and opportunities."
In line with this, she outlined three key bills for businesses and workers. These were the Pensions Bill, National Insurance Contributions Bill and Deregulation Bill.
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The pensions bill will look at implementing the new single-tier pension proposed by Pensions Ministers Steve Webb MP. This will ensure a £144pw pension for all retirees who have worked for 35 years from 2016.
The Queen said: "My government will bring forward legislation to create a simpler state pension system that encourages saving and provides more help for those who have spent years caring for children."
The deregulation bill aims to reduce excessive amounts of regulation for businesses while the national insurance bill is an employment allowance for companies which will reduce their NI contributions. Announced in the Budget in March, it will mean around 450,000 small companies will be removed from the employers NI net.
The Queen also announced a Care Bill following on from proposals by the Dilnot Commission about reducing the costs for care fees. It has been proposed to create a long-term care cap of £75,000 from April 2017.
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