Queen's speech 2008

The government's legislative programme for 2008/09 was outlined in the Queen's speech on 3 December 2008.

The bills which may have implications for lenders are listed below.

  • Banking Bill (carried over from the 2007/08 session) - will introduce a framework for protecting bank depositors. It will allow the Bank of England and other authorities to intervene when a bank gets into severe difficulties - and introduces two new insolvency regimes for banks. Changes the Financial Services Compensation Scheme to ensure faster payout. Gives the Bank of England a statutory "financial stability objective" and allows it to "lend in a more effective manner". Enables the Financial Services Authority to collect information from banks in difficulty and share it with the Treasury and Bank of England. The bill applies to the entire UK.
  • Equality Bill - will promote equality and tackle discrimination in all its forms, including age discrimination, and simplify and harmonise discrimination law. The bill will apply to England, Wales, and Scotland.
  • Local Democracy, Economic Development and Construction Bill - will place a duty on councils to "promote democracy" and monitor local economic conditions; makes it a legal duty for them to respond to petitions; and demands the setting-up of a National Tenant Voice to ensure tenants' views are "central" to housing decision-making. The bill will apply mainly to England, with some parts applying to Wales and very little to Scotland and Northern Ireland. 
  • Welfare Reform Bill - aims to create incentives for people to return to work and consequences for those who do not. The bill will abolish income support and move all people onto jobseeker's allowance, if they are well, or employment and support allowance, if they are sick. The bill will apply to England, Scotland and Wales.

To coincide with the Queen’s speech, the following draft bills were announced.

  • Community Empowerment Bill
  • Floods and Water Bill

More detail on all the legislation announced can be fuond on the leader of the House of Commons' website.

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Policy responses

Responses to consultations and submissions to government, opposition parties and other organisations.

A practical guide to helping mortgage borrowers in financial difficulty

A leaflet providing practical information to assist MPs and their staff when dealing with enquiries from constituents who are having diffculty in meeting their  mortgage payments. (August 08)

Think tanks

Details of the main UK think tanks, their remit, political affiliations, and recent projects/reports of relevance to the lending industry