Queen's Speech to include two work and pensions bills
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Tuesday’s Queen’s Speech is set to outline an ambitious programme of 21 new bills, including two work and pensions bills.
According to a draft document, leaked to the Sunday Telegraph, a Conservative Welfare Reform bill and a Pensions and Savings bill, proposed by the Liberal Democrats, will be introduced to Parliament after the summer recess.
An Equitable Life Payments Scheme bill, from the Treasury, will be introduced before the recess.
The Telegraph says Work and Pensions Secretary Iain Duncan Smith will sell the new welfare bill as helping people back into work, partly by scrapping all existing programmes and setting up a single welfare to work regime.
The paper says the bill will also hike sanctions on people who refuse to work.
The new Pensions and Savings bill will introduce plans to restore the earnings link to the basic state pension and is likely to also set out a timeframe for a review into when the state pension age starts to rise.
Also after the summer recess, the coalition will introduce a Financial Services Regulation bill to Parliament. The Treasury bill is likely to introduce a range of changes planned by George Osborne including putting regulation back in the hands of the Bank of England.
The bill may also enact a new levy on banks and a crackdown on excessive bonuses in the banking sector.
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