Bills of interest to businesses include: 

Small Business Protections (Late Payments) Bill 

Legislation will be introduced to tackle late payments, which cost the UK economy £11 billion each year and leads to the closure of 38 UK businesses every day. The Bill will: 

• Impose maximum payment terms of 60 days, with strictly limited exemptions (when both parties are large companies, when the purchaser is the smaller party, or when the goods or services are being imported or exported). 
• Enforce mandatory interest for late payments at eight per cent above the Bank of England base rate.  
• Introduce a time limit for raising invoice disputes, before payment is due. 
• Give the Small Business Commissioner new powers to investigate businesses, adjudicate disputes, and fine persistent offenders. 
• Take targeted action on the construction sector to ban the practice of deducting and withholding retention payments under construction contracts. 

We said, they did 

The Small Business Protections (Late Payments) Bill was informed, in part, by the late payments consultation that Buckinghamshire Business First responded to in 2025. 

Our response to the consultation called for a legally enforced 60-day maximum payment term and a 30-day limit for invoice disputes, with meaningful penalties for breaches. We proposed that enforcement and penalties for late payment (including illegal activities to avoid payment) should be prioritised over increased reporting requirements, which risk burdening small and medium-sized enterprises (SMEs). 

The Government’s response to the Prompt Payment consultation, published in March 2026, broadly aligns with Buckinghamshire Business First’s evidence, particularly on the need for stronger, enforceable action to tackle late payment, avoiding additional burdens on small businesses. Priorities set out by BBF, such as introducing a hard 60‑day maximum payment term, a 30‑day deadline for disputing invoices, and meaningful enforcement, are reflected in the Government’s new bill, as are introducing mandatory compensation for late disputes, and expanded powers for the Small Business Commissioner to investigate, adjudicate,and fine persistent late payers.

Indeed, the Government has gone further than BBF suggested in some areas, notably by mandating statutory interest at 8% plus Bank Rate for late payments. A ban on retention clauses, used in construction contracts, is also proposed. Overall, the government’s direction reflects strong convergence on outcomes, aiming for faster payment, reduced legal costs for small businesses, and stronger deterrents. However, the government’s approach to achieve enforcement relies heavily on central oversight and administrative burdens, although with a proportional focus on repeat offenders. Further details will become available as the Small Business Protections (Late Payments) Bill progresses through parliament.  

Regulating for Growth Bill  

The Bill will:

• Give leading regulators such as Natural England, the Environment Agency, and the Health and Safety Executive (HSE), a clear, statutory mandate to prioritise growth without undermining their important core functions, reducing unnecessary risk aversion and ensuring regulatory decisions support investment, infrastructure and market creation. 
• Create legal powers enabling businesses to test cutting-edge new products and technologies safely, prove what works and then scale up delivery of these changes more quickly. These powers will allow existing rules to be temporarily relaxed, under strict controls, to test new products and technologies in real-world settings. 

We said, they did 

In 2025, the government asked businesses large and small to highlight regulations not fit for purpose that inhibit growth, innovation and investment. 

Buckinghamshire Business First’s response covered a range of regulatory areas where local businesses have reported challenges, such as trade rules causing major hurdles for UK businesses, complex paperwork, VAT registration, and Responsible EU entity requirements increasing costs and delays. Legal compliance, HR regulations, and planning delays have also added burdens, while unclear guidance and uneven enforcement frustrate firms. To resolve these issues, we advocated for clearer and more consistent rules, better communication, and fairer implementation of regulation. 

While the full outcome of this consultation is pending, the ‘Regulating for Growth Bill’ announced at the King’s Speech will allow for pilot schemes to boost innovation in areas like defence technology and AI-controlled ships. While other policy remains in place to ensure that regulation is used to promote economic growth, such as the Regulation Action Plan (last updated October 2025), there may be a risk that policy focuses too much on a small group of high opportunity sectors, limiting the ability of other businesses to take advantage of regulatory reform to support growth in areas such as planning and licensing. 

Cyber Security and Resilience Bill  

The Bill will: 

• Expand the remit of existing regulations to better protect more of the core services people and businesses rely on including IT, data centres, electricity supply and smart meter infrastructure, critical supplies and healthcare.  
• Ensure cyber regulators are more effective and consistent to protect essential services.  
• Give ministers new powers to instruct regulators and the organisations they oversee, like NHS trusts and Thames Water, to take specific, proportionate steps to prevent cyber attacks where there is a threat to UK national security. 

European Partnership Bill 

The Bill aims to improve the UK’s trade and investment relationship with the EU by providing a framework of powers to ensure agreements with the EU can be implemented now and in the future. This includes deals on electricity, emissions trading, and food and drink. 

Competition Reform Bill 

Earlier this year, the Government launched a consultation on how to improve the UK’s competition system so that it continues to work well for consumers, businesses and the wider economy. The final details of the Competition Reform Bill will be shaped by this consultation, but the Bill aims to: 

• Improve decision-making at the Competition and Markets Authority (CMA), giving the CMA Board a role in decisions on mergers and market investigations, improving accountability to Parliament, businesses and the public. 
• Make market reviews quicker and more focused. 
• Provide more clarity and flexibility in merger reviews, giving businesses greater certainty about whether a merger is likely to be reviewed in the UK. 

Reaction to the King’s Speech 

Saffery highlight Late Payments Bill and simplifying regulation 

Luke Hanratty, Saffery Partner, comments: “Some of the measures announced in the King’s Speech should be broadly welcomed by SMEs across Buckinghamshire, particularly the proposed Late Payments Bill. Cash flow remains one of the biggest pressures facing growing businesses in sectors such as technology, manufacturing and professional services, so any measures to introduce mandatory payment terms and stronger penalties for late payment are beneficial to their financial resilience.

"At the same time, reforms aimed at simplifying regulation and streamlining competition investigations may reduce compliance burdens and create a more predictable environment for businesses looking to scale, attract investment and adopt new technologies.”

B P Collins highlight Bills concerning leasehold properties and unsafe cladding 

Commonhold and Leasehold Reform Bill: Marks the beginning of the end for what Sir Keir Starmer called the “unfair feudal system” of leasehold properties. It will ban the use of leasehold for new flats, cap ground rents at £250 a year and implement a new process for converting to commonhold. 

Remediation Bill: Boosts powers for regulators and closes loopholes to accelerate the removal of unsafe cladding from buildings. 

Alison Taylor, Property Practice Group leader and Partner at B P Collins comments: “The measures announced in the King’s Speech are likely to have important implications for both developers and homeowners across Buckinghamshire. The proposed Commonhold and Leasehold Reform Bill could lead developers to transition away from the traditional leasehold model for new flats and adapt to a commonhold system instead, whereby the homeowners collectively own the freehold of their building permanently and manage the communal areas, with no third-party landlord or lease expiry. This is likely to alter existing development and ownership structures. For homeowners and buyers, the reforms are intended to provide greater transparency and longer-term control over properties. 

“Meanwhile, the Remediation Bill reinforces the focus on building safety and is expected to increase pressure on developers to address outstanding cladding and remediation issues more quickly. Much will depend on the detail of the legislation, but the direction of travel towards greater accountability and consumer protection is clear.” 

A full copy of the King’s Speech and Government briefing notes are available here.

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Buckinghamshire Business First is the primary source of insights from the business coalface. This intelligence is used to ensure strategies and policies are based on robust evidence and to ensure government at all levels is aware of the economic issues facing Buckinghamshire’s communities.