May 20, 2022

Review and News

The important thing pledges as Prince Charles units out Executive’s schedule

Draft Audit Reform Bill
The bill will commence a long-awaited overhaul of the UK’s auditing industry, by establishing a new regulator. The latest research suggests a third of company audits are substandard. The largest private companies working in the sector will also be designated “public interest entities” in recognition that ministers have a special interest in managing them.
Brexit Freedoms Bill 51
A Brexit bonfire of red tape will see up to 1,400 “messy” EU laws torn up at record pace as Boris Johnson pledges to turbocharge growth by ditching Brussels rules. Jacob Rees Mogg has been tasked with axing £1 billion of regulation, with sweeping new powers to remove “retained” European legislation from the statute book.   
Procurement Bill 53
Cumbersome EU procurement rules will be shredded so the UK can “easily replicate the great success” of the lightning fast Covid vaccine rollout in future. No 10 will streamline the current system, inherited from Brussels, boosting small firms’ access to public contracts and encouraging ministries to buy British. 
Financial Services and Markets Bill 55
Banks will have to keep high street branches and cash machines so people can access paper money in a move designed to protect the elderly and vulnerable. The PM also unveiled a crackdown on internet scams and that he’ll replace all EU financial services legislation with bespoke British rules to boost the City. 
Data Reform Bill 57
Pettifogging EU data protection rules which promote “box ticking” over common sense will be wiped out, saving British businesses £1bn over the next decade. Replacing hated GDPR laws with a streamlined UK alternative will also improve public services like the NHS and turbocharge scientific research. 
Trade (Australia and New Zealand) Bill 59
Boris Johnson will kick off Britain’s post-Brexit trade revolution with new laws to cement the first “from scratch” agreements with Australia and New Zealand. No 10 says the duo of deals, which remove 100% of tariffs on UK exports, will boost trade with both key allies by a combined £3.1 billion a year. 
Genetic Technology (Precision Breeding) Bill 61
Britain is to become a global leader in the development of new crops that can survive climate change thanks to being free from the European Court of Justice. EU rules hampering research into precision bred plants and animals will be ripped up, allowing UK scientists to perfect the superfoods of the future. 
Higher Education Bill
A new loan will entitle individuals to four years of post-18 education (equivalent to £37,000), including shorter and technical courses.
People wanting to access student finance will need to meet minimum qualification requirements, likely to include passing maths and English GCSEs, while some universities will have place numbers capped. 
Social Housing Regulation Bill
The regulator will be allowed to intervene with landlords performing poorly on decency of homes or handling complaints, and to carry out inspections, ensuring quality accommodation.
New ‘Satisfaction Measures’ will let tenants see how their landlord compares to others, and fines for landlords failing to meet required standards will be capped.
Renters Reform Bill
Tenants will be protected through the abolition of ‘no fault’ evictions and a new Ombudsman for private landlords will allow disputes to be resolved more easily without going to court.
A new property portal is to remind landlords of their obligations, and the legally binding Decent Homes Standard will be applied.
Harbours (Seafarers’ Remuneration) Bill
After the P&O scandal, this Bill will ensure all ferry crews receive a fair wage by empowering ports to surcharge ferry operators that do not pay a national minimum wage equivalent.
Operators must also pay a fair wage to seafarers in UK territory and face sanctions or suspension if they do not comply. 

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