It has been a busy few weeks since the Labour Party was elected and formed a new government in the UK. The party's manifesto, along with the King’s Speech on 17 July, set out what changes we can expect to see after 2 September, following the parliamentary recess.
In this bulletin, we provide an overview of the key bills, to help our international contacts with conversations about their clients' activities and plans in the UK. We highlight how the proposed key bills could affect business and the economy, employment, energy and natural resources, planning and infrastructure, arbitration, and data and cyber security. We encourage you to share these important updates with your network.
Several bills have been introduced by the new Labour government that will affect business and the economy if they become law.
In our article we provide detail on the Budget Responsibility Bill, the National Wealth Fund Bill and the Audit Reform and Corporate Governance Bill, highlighting how these bills might impact international businesses looking to invest in the UK.
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The Employment Rights Bill will be ‘the biggest upgrade to workers’ rights in a generation’. The bill will create additional processes and obligations for employers, including the removal of the two year continuous employment rule, where employees gain protection once their probationary period ends, and greater rights for trade union recognition rights. This will impact any overseas employer engaging employees in the UK.
Our article points out the employment insights from the King’s Speech, sets out the accompanying prime minister’s briefing notes and explores what’s next for employment law in the UK.
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The new Labour government has introduced various bills that will affect the energy sector if they become law.
In our article we introduce the Great British Energy Bill, the Crown Estate Bill and the Sustainable Aviation Fuel (Revenue Support Mechanism) Bill, providing insight on how these bills might impact international businesses.
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Following the King's Speech on 17 July 2024, the new Labour government has confirmed in its briefing paper that it will be resurrecting the Arbitration Bill. The bill is considered to be essential to support 'more efficient dispute resolution, attract international legal business, and promote UK economic growth’, and bolster our world-leading domestic and international arbitration sector.
Our article summarises the key features of the bill, the timeline for implementation and the importance of the bill for both domestic and international clients.
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The Product Safety and Metrology Bill will update the UK’s product regulation regime in response to technological advances and relevant developments in EU law.
The Cyber Security and Resilience Bill will update and strengthen current cyber security regulations.
The Digital Information and Smart Data Bill will establish digital verification services, develop a National Underground Asset Register, and set up smart data schemes. Click here to read a more in-depth article on the Digital Information and Smart Data Bill.
The inclusion of these bills indicates that the government is prioritising consumer protection, product regulation and the safe deployment of data. The possibility of further voluntary alignment with relevant developments in EU law will be welcomed by overseas businesses which export to the UK and the EU. The new approach will also facilitate alignment between Northern Ireland and the rest of the UK as far as product regulation is concerned.
Businesses exporting products to the UK, or working in the UK in the fields of data or cyber security, will want to keep themselves updated with the new regulatory environment as it develops.
The Planning and Infrastructure Bill aims to accelerate the building of homes and infrastructure, by simplifying the approval process for critical infrastructure projects and streamlining decision making. There are also plans to modernise local planning committees and increase capacity for planning authorities’, to improve the current service.
The bill will reform compulsory purchase compensation rules, to ensure that compensation paid to landowners regarding social and physical infrastructure and affordable housing is fair. This will assist with unlocking development sites which should speed up housing delivery, including affordable homes.
These housing and infrastructure projects, along with the expected economic growth as a result of this, will create plenty of opportunities for international businesses to invest in the UK market. The Planning and Infrastructure Bill appears to be high on the government’s agenda, therefore it’s important for international investors to stay up-to-date with the latest information.
Following the result of the UK 2024 election, we provided insight into the Labour Party's policies across key sectors.
We covered business and the economy, employment, healthcare, energy and natural resources, private individuals, real estate, ports and harbours and construction and infrastructure.
Read our insights here
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