Policy Insights: The King’s Speech 2026

Despite the chaos currently surrounding Keir Starmer’s premiership, the UK Government today brought forward their plan for the next year of Parliament, delivered through the King’s Speech. 37 pieces of legislation have been promised, with the speech placing a real emphasis on security, in particular seeking to protect the energy, defence, and economic security of the UK. Whilst many of the measures announced will not apply in Scotland, Key elements that will impact Edinburgh businesses include:

• Improving trade relations – referencing advocacy from the British Chambers of Commerce, the Government has committed to strengthen ties with the EU, and work to implement deals on electricity, emissions trading, and food and drink that will make trade easier.
• The speech promised “the most significant legislation to tackle late payments in over 25 years”, with a range of measures incoming, including mandatory interest for late payments and new powers for the Small Business Commissioner.
• Efforts to reduce unnecessary regulation and improve competition, including reforms to the Competition and Markets Authority, and elevating consideration of growth in regulatory decision-making.
• The Enhancing Financial Services Bill which will deliver key parts of the Leeds Reforms set out in 2025 and unlock more finance for UK businesses.
• Improve defences against cyber security threats, particularly for services that people and businesses rely upon such as energy networks and data centres.
• The nationalisation of UK-based steel companies, in order to safeguard the domestic production of steel.
• An Energy Independence Bill to scale-up homegrown renewable energy and speed up improvements to the grid.
• Establish Great British Railways, deliver Northern Powerhouse rail, and support airspace modernisation.
• There were also promises to tackle youth unemployment, attract private investment, and to work closely with the Devolved Governments and in partnership with business.

Regardless of the noise surrounding the Prime Minister, Edinburgh Chamber of Commerce remains committed to working with the UK Government, both directly and through our umbrella body the British Chambers of Commerce, to ensure that the policies our members need are taken forward. If you’d like to get involved in our policy and advocacy work, please get in touch at policy@edinburghchamber.co.uk